Hungarian player Sand Hill Petroleum has been awarded a trio of hydrocarbon concessions in the Pannonian basin.
The award, agreed through Sand Hill’s fully owned subsidiary, O&GD Central, includes the Bekescsaba, Korosladany and Tiszafured concessions.
The three areas, which total 3047 square kilometres, are located adjacent to O&GD Central’s operating areas.
The concession agreements with the Hungarian Ministry of Innovation and Technology have a duration of 20 years, Sand Hill said, without revealing any plans for the areas.
Sand Hill holds several licences onshore Hungary and in neighbouring Romania.
To date, it has drilled 25 exploration wells acquired around 700 square kilometres new 3D and over 500 kilometres of 2D seismic survey on its Hungarian concession blocks.