document: O&G Development Central Kft. (OGD), domestic subsidiary of Sand Hill Petroleum BV, was selected by the Ministry of Innovation and Technology as the bid winner of the area KÃ¶rÃ¶sladÃ¡ny in eastern Hungary, offered during the 2018 tender call that closed in end-October. The pre-award of the block to OGD was pronounced on 5 December 2018. The company has now 90 days (with a possible extension for further 60 days) to negotiate the contract - the final award is expected in early 2019.    The 494 sq km KÃ¶rÃ¶sladÃ¡ny area is located within the Nagykunsag, Bihor and Bekes sub-basins, tectonic units of the Pannonian Basin.  Background Information  The tender call for the KÃ¶rÃ¶sladÃ¡ny block was published in the EU Official Journal on 21 June 2018. The closing date of the tender was 26 September 2018.    The countryâs first bid round was pronounced in 2013 and had little success (two awards). Following modifications to the legal and fiscal terms, the tenders conducted in 2014, 2015, 2016 and 2017 attracted significant attention and resulted with the awards of 17 new concessions (awards from the 2017 round were effectuated in January/February 2018). As during the period 2013-17, the opening of the 2018 round was expected in late May/June 2018, with nine areas offered for the hydrocarbon operations and one to two blocks for the hydrothermal energy.  In preparation for the licensing rounds, until late 2018, the authorities have earmarked some 35 open areas in the western, central, eastern and northeastern part of the country. As during the period 2013-18, the opening of the next round is expected in late May/June 2019, with some nine areas to be offered for the hydrocarbon operations and one to two blocks for the hydrothermal energy. The tender documents, published in the EU Official Journal, mark the onset of the bid round.
summary: Hungary	Sand Hill Petroleum was awarded KÃ¶rÃ¶sladÃ¡ny in eastern Hungary.