Tuesday, November 19, 2019

MOL Wins UK North Sea Licenses

Posted by November 13, 2014

Hungarian oil and gas group MOL has won four drilling licences in the Central UK North Sea, the company said in a statement.

"We are extremely pleased to have secured a number of highly prospective licences in the UK Continental Shelf as operator," MOL said.

"We look forward to working with our industry partners in order to technically mature these licences and progress to the exploratory drilling phase."

The company said that the licences had 'Drill or Drop' well obligations.

MOL bought several stakes in the North Sea offshore oil and gas fields of Wintershall Norge AS, a unit of Germany's BASF , for $375 million last year.

In June, Premier Oil sold a package of six licences in the North Sea to MOL for $130 million.

 

Reporting by Gergely Szakacs

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