MOL agrees on terms for Wintershall North Sea interests

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 the Broom 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 the North Sea and Middle East region.

12/16/2013

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