MOL acquires Wintershall assets in North Sea
Hungary-based oil and gas giant MOL has extended its upstream portfolio through the acquisition of the assets of Wintershall in the United Kingdom Continental Shelf of the North Sea, company representatives announced today.
MOL said that the base consideration offered to the seller amounts to $375 million, which is subject to adjustments at closing, expected to take place in the first quarter of 2014.
MOL said that the deal is of strategic value as the company intends to enhance its offshore experience and achieve further growth in the region, while immediate reserve addition and sizeable mid-term production growth are also realized.
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