Brief: Hungary's MOL signed agreement with Shell to acquire BG Cyprus Ltd
BRIEF-Hungary's MOL signed agreement with Shell to acquire BG Cyprus Ltd July 31 (Reuters) - MOL Magyar Olaj es Gazipari Nyrt MOLB.BU says in a statement:
SIGNED AN AGREEMENT WITH SHELL TO ACQUIRE BG CYPRUS LTD, THEIR 100% SUBSIDIARY
BG CYPRUS LTD HOLDS A 35% NON-OPERATED INTEREST IN THE CYPRUS OFFSHORE BLOCK 12
CYPRUS OFFSHORE BLOCK 12 CONTAINS THE APHRODITE GAS FIELD IN THE EASTERN MEDITERRANEAN
APHRODITE IS A DEEPWATER GAS DEVELOPMENT PROJECT IN CYPRUS'S BLOCK 12, DISCOVERED IN 2011 AND APPRAISED THROUGH SUBSEQUENT DRILLING CAMPAIGNS
THE DEVELOPMENT PLAN OF THE FIELD INCLUDES THE DRILLING OF FOUR WELLS AND THE ESTABLISHMENT OF AN INDEPENDENT FLOATING FACILITY
THE TOTAL CONSIDERATION PAYABLE BY MOL GROUP FOR THE TRANSACTION IS UP TO $720 MILLION
Source text: [https://bse.hu/newkibdata/129508842/MOL_Aphrodite_20260731_eng.pdf]
Further company coverage: MOLB.BU
(Reporting by Anita Komuves)
((KOMUVES.Anita@thomsonreuters.com;))
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