JKX Oil & Gas has been granted three 35-year production licences covering an additional area of around 124sq km within its original Hernad I & II exploration licence areas in Hungary. The Emod V production licence extends over 100sq km and includes the Mezokeresztes field, which is thought to hold significant undrained reserves. The field was shut-in during the 1970s and up to 90% of the mapped oil originally in place (circa 15m bbl) remains in-situ.
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