MOL agrees on terms for Wintershall North Sea interests

Wintershall has agreed to sell its share of 14 UK offshore licenses to the Hungarian MOL Group for $375 million.

Offshore staff

BUDAPEST, Hungary – Wintershall has agreed to sell its share of 14 UK offshore licenses to the Hungarian MOL Group for $375 million.

The package includes equity stakes in theBroom field (29%) and the Catcher (20%), Cladhan (33.5%), and Scolty/Crathes (50%) developments.

Additionally, MOL will gain Wintershall’s equity share in existing infrastructure on the Sullom Voe terminal on the main Shetland Island and the offshore Brent pipeline system.

The transaction is subject to approval by the UK authorities and license partners.

Both companies have also agreed to jointly pursue exploration and production opportunities in theNorth Sea and Middle East region.

12/16/2013

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