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

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...