MOL Group completes entry to UK North Sea

Offshore staff

KASSEL, Germany – Wintershall has completed its sale of various UK North Sea interests to Hungary’s MOL Group for $375 million. The two had first announced the transaction last December.

MOL gains stakes in 14 licenses including non-operated equity in the Broom field (29%), the Catcher (20%), Cladhan (33.5%), and Scolty/Crathes (50%) developments.

Additionally, it takes Wintershall’s share of infrastructure on the Sullom Voe terminal in Shetland and the Brent pipeline system.

The full license details are as follows:

 

Transaction overview: Asset

License number

Status

Equity sold to MOL

Operator Partners (before transaction)

Broom

P242/

P902

Producing

-29%

EnQuest (63%)

Ithaca Energy (8%)

Broom area

P1967

Exploration

-50%

EnQuest (50%)

Cladhan

P1064

Development

-33.5%

TAQA (52.7%)

Sterling (13.8%)

Cladhan South

P1680

Exploration

-36%

TAQA (64%)

Catcher

P1430

Development

-20%

Premier Oil (50%)

Cairn Energy (30%)

Catcher area

P2086/

P2040

Exploration

-20%

Premier Oil (35%)

Cairn Energy (35%)

Statoil (10%)

Scolty/ Crathes

P1107/

P1617

Development

-50%

EnQuest (40%)

Ithaca Energy (10%)

Scolty/ Crathes area

P2084

Exploration

-50%

EnQuest (50%)

 

P1972

Exploration

-57%

Wintershall (57%)

Tullow (43%)

Blakeney

P1619

Exploration

-75%

Wintershall (75%)

Sterling (25%)

Lucius

prospect

P1633

Exploration

-18,88%

MPX (16.67%)

Cairn Energy (27.78%)

TAQA (20%)

Dyas (16.67%)

 

03/25/2014

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