HUNGARY

(in Eastern Europe)

CAPITAL: BUDAPEST

POPULATION: 10 mm

AREA (on): 93,000 km2

OIL PEAK: 1982

SUPPLY

Hungarian production peaked in 1984. Its fields are mostly depleted and just a few satellite discoveries occasionally come onstream to slow decline.

Hungary was once a significant non-associated gas producer but gas output also peaked in the mid 1980s and decline has continued ever since.

There are no offshore waters in Hungary.

 

DEMAND

The Hungarian economy grew rapidly after its admission to the European Union in 2004 and oil consumption also grew. However the country has been hit hard by the 2008/2009 recession and a steady fall is now forecast.

Conversely gas consumption is forecast to grow after dipping from 2006. The country will need to import increasing volumes of gas from the Former Soviet Union to satisfy demand.

 

 
 

 

 

This is a simple forecast - detailed forecasts including offshore and onshore, deep water splits, sedimentary basins and major fields and drilling etc. can be purchased for most countries.

 

An onshore and offshore oil and gas production, consumption and drilling activity forecast report on this country can be commissioned,

including all relevant charts. Contact us for price and contents list.

 

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