MOL successfully closed its previously announced deal with Wintershall and acquired offshore assets with 14 licenses in the North Sea. MOL Group has also recently opened an office in Aberdeen to support its operations and its future expansion in the region.

According to the Share Purchase Agreements with Wintershall which was signed on 12 December 2013 MOL has acquired offshore assets with 14 licenses on the United Kingdom Continental Shelf. The portfolio includes non-operated equity stakes in the Broom (29% Working Interest), Catcher (20% WI), Cladhan (33.5% WI), Scolty and Crathes fields (50% WI). In addition, Wintershall’s equity share in the infrastructure assets of the Sullom Voe Terminal and Brent Pipeline System were also part of the deal.

MOL Group has recently also established a new office in Aberdeen to support its operations and its future expansion in the region. “The North Sea is a very attractive area, and MOL will continue to develop its presence in the region. We intend to take part in upcoming licensing bid rounds and aim to become operators ourselves.” – said Alexander Dodds, MOL Group Executive Vice President for E&P.

About MOL Group

MOL Group is an integrated, independent, international oil and gas company, headquartered in Budapest, Hungary. It has operations in over 40 countries and employs almost 29,000 people worldwide. MOL’s exploration and production activities are supported by more than 75 years’ experience in the hydrocarbon field. At the moment, there are production activities in 8 countries and exploration assets in 13 countries. The Group operates four refineries and two petrochemicals plants, under integrated supply chain management, in Hungary, Slovakia and Croatia. MOL Group also owns a network of over 1,700 service stations across 11 countries in Central & South Eastern Europe.