MOL Group Acquires UK North Sea Assets

February 2014, Vol. 241 No. 2

The Hungarian MOL Group has acquired assets in the UK North Sea from Wintershall. The Group will acquire 14 licenses in the North Sea, including non-operated equity stakes in the Broom field (29%) as well as the Catcher (20%), Cladhan (33.5%) and Scolty/Crathes (50%) developments.

Wintershall’s equity share in existing infrastructure on the Sullom Voe Terminal and the Brent Pipeline system are also part of the deal. The purchase price of US$ 375 million is subject to value adjustments at closing.