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MOL acquires North Sea assets

BUDAPEST, Hungary -- MOL has successfully closed its previously announced deal with Wintershall and acquired offshore assets with 14 licenses in the North Sea.

According to the Share Purchase Agreements with Wintershall which was signed on December 12, 2013, MOL has acquired offshore assets with 14 licenses on the UK Continental Shelf. The portfolio includes non-operated equity stakes in the Broom (29% WI), Catcher (20% WI), Cladhan (33.5% WI), Scolty and Crathes fields (50% WI). In addition, Wintershall’s equity share in the infrastructure assets of the Sullom Voe Terminal and Brent Pipeline System were also part of the deal.

MOL Group has recently also established a new office in Aberdeen to support its operations and its future expansion in the region.

“The North Sea is a very attractive area, and MOL will continue to develop its presence in the region. We intend to take part in upcoming licensing bid rounds and aim to become operators ourselves,” said Alexander Dodds, MOL Group executive V.P. for E&P.

03/25/2014

 

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