MGYOY Mol Magyar Olay Es Gazipari Rt (PK)

By Veronika Gulyas

BUDAPEST--Hungary will probably hold the second round of hydrocarbon concession tenders in the first half of this year, the country's development ministry told The Wall Street Journal Wednesday, after announcing three winners of the first tender.

In the first tender concessions for exploration, development and production of hydrocarbons were awarded to Hungary's largest oil and gas firm MOL Nyrt. (MOL.BU) in two regions and Vermilion Exploration B.V. in one region, and a tender to exploit geothermal energy was awarded to CEGE Central Europe Zrt. in one region.

Concessions for exploration, development and production of hydrocarbons are for a 20-year period while the geothermal energy award is for 35 years.

No bids were filed for three out of the seven regions in the tender, the ministry said.

Write to Veronika Gulyas at veronika.gulyas@wsj.com