JKX Oil & Gas has been granted three 35-year production licenses covering an area of about 75 sq km within its former Hernad I & II exploration license areas in northeastern Hungary, the company said in a news release. The licenses are wholly owned by JKX.
The existing Hajdunanas-IV production license, which encompasses the Hajdunanas Field, has been extended to the northeast. It will now include an extension to the Miocene play productive in the Hajdunanas-1 well, JKX said. The license extension covers 15 sq km, increasing the total area of the license to 25 sq km.
The Tiszavasvari-IV production license extends over 44 sq km and is centered on the 2010 discovery well Tiszavasvari-6. This well encountered a hydrocarbon column of more than 300 m in a small fault block adjacent to a larger up-dip fault block which provides considerable additional upside potential.
The Hajdunanas-V production license covers an area of 15 sq km and incorporates the Chevelle structure, JKX said. It has been defined by the presence of significant gas shows in Pannonian reservoir rocks intersected down-dip of the mapped closure during the drilling of the Tiszavasvari-6 well.
JKX said it has submitted three further production license applications on other areas within the former Hernad I and II exploration license areas. The company expects confirmation of additional awards by year-end.
Recommended Reading
Iraq to Seek Bids for Oil, Gas Contracts April 27
2024-04-18 - Iraq will auction 30 new oil and gas projects in two licensing rounds distributed across the country.
US Raises Crude Production Growth Forecast for 2024
2024-03-12 - U.S. crude oil production will rise by 260,000 bbl/d to 13.19 MMbbl/d this year, the EIA said in its Short-Term Energy Outlook.
Exxon Versus Chevron: The Fight for Hess’ 30% Guyana Interest
2024-03-04 - Chevron's plan to buy Hess Corp. and assume a 30% foothold in Guyana has been complicated by Exxon Mobil and CNOOC's claims that they have the right of first refusal for the interest.
Petrobras to Step Up Exploration with $7.5B in Capex, CEO Says
2024-03-26 - Petrobras CEO Jean Paul Prates said the company is considering exploration opportunities from the Equatorial margin of South America to West Africa.
The OGInterview: How do Woodside's Growth Projects Fit into its Portfolio?
2024-04-01 - Woodside Energy CEO Meg O'Neill discusses the company's current growth projects across the globe and the impact they will have on the company's future with Hart Energy's Pietro Pitts.