60 years of OLAJTERV

2023. March 6.

This year OLAJTERV Engineering Co. Ltd., the market leader in the oil and gas industry, celebrates its 60th anniversary.

On this occasion we talked to Gábor Juhász, CEO of the company.

Can you briefly tell us about the history of the company? 

The predecessor of OLAJTERV was founded in 1963 as the Oil and Gas Engineering Company under the leadership of Dr. Tamás Garai and became the leading company in the Hungarian oil and gas industry. The name OLAJTERV can be traced back to 1968, when KGTV changed to the more easily understood name OLAJTERV. On 1 July 1991, it was spun off from OKGT and became a joint stock company. MOL bought the company from State Asset Management Ltd in 1992, and in 2000 the then management bought the majority shareholding in OLAJTERV Zrt. from MOL. After several reorganizations and changes in the company's legal structure, it finally became a member of the MOL Group again in 2019 and has been operating under the name OLAJTERV Engineering Co. Ltd. since 2021.

What does OLAJTERV do and what can it offer to customers?

Basically, we deal with design, naturalization and engineering services and we provide our clients with everything from studies to detailed design and as-built design documentation. Our team, which now exceeds 100 people, is constantly evolving, and with over 60 years of experience, capacity and competence in sixteen disciplines, we carry out our activities using the latest IT tools.

Who are your customers?

As a 100% MOL subsidiary our main markets are MOL Plc, Slovnaft as, MPK Plc., FGSZ Plc. But alongside them, work from external markets is also gaining ground. In 2022, it already accounted for more than 25% of our revenue, and this year we plan to increase this share towards 35%.

What are your plans? How do you see the future of OLAJTERV?

Overall, we want to maintain our leadership in the industry in the future and create stability and a predictable future for our employees.

Our goal is to become an active player in the pharmaceutical and chemical industries, to gain a foothold in utilities, airport development and to maintain our presence in the defense industry.

Another goal and challenge is to attract young people, retain talent and transfer experience. For me, people are the most important asset and I place particular emphasis on retaining experienced colleagues. It's not uncommon to have employees who have been with us for 20-25 years, the most senior colleague having with us for 43 years. It is highly important that these experienced colleagues are able to pass on their expertise to young people. To attract young people, we have launched a trainee program and we are strengthening our university partnerships and cooperation agreements, most recently with the Faculty of Mechanical Engineering of the Budapest University of Technology and Economics at the end of 2022.