Makó gas field
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| Makó gas field | |
|---|---|
| Country | Hungary |
| Offshore/onshore | Onshore |
| Partner | Falcon Oil & Gas |
| Field history | |
| Discovery | 1960s |
| Start of production | 2006 |
| Production | |
| Current production of gas | 1×109 m3/a (35×109 cu ft/a) |
| Recoverable gas | 1,550×109 m3 (55×1012 cu ft) |
The Makó gas field (Makó Trough Pannonian Basin Gas Accumulation) is a large natural gas field next to Makó, in southeastern Hungary.
Since the 1960s it was well known that a large gas field existed next to Makó. The disadvantages are the depth of the gas deposit at about 5,000 metres (16,000 ft), and the large thermal increase with depth in Hungary (about 20 metres (66 ft) per degree Celsius compared to a world-average 50 metres (160 ft) per degree Celsius).[citation needed]
In 2005, Canada's Falcon Oil & Gas bought the extraction rights from the Hungarian state for 40 years. It started test extractions in 2006 with 327 barrels (52.0 m3) of light crude oil and 110,000 cubic metres (3,900,000 cu ft) of natural gas daily. In 2008 April, ExxonMobil signed a contract of cooperation of the extraction with US$75 million, and in case of successful co-work with additional $150million. In February 2010, ExxonMobil gave up the project due to the high costs of possible extraction.[1]
At the 90% probability rate, Makó had certified recoverable resources of over 600 billion cubic metres (21 trillion cubic feet) of natural gas, according to a report by the Scotia Group, prepared for the field's exploration concession holder, the Canada-based Falcon Oil and Gas. Later estimates rose to about 1,550 billion cubic metres (55 trillion cubic feet) of natural gas.[citation needed]