Shell Exits Cyprus Aphrodite Gas Field in $720m Deal
16 Articles
16 Articles
Shell announced that it agreed to sell its subsidiary BG Cyprus, which holds a stake in the Aphrodite natural gas field in the east of the Mediterranean, to the Hungarian group MOL for up to $720 million. Exclusive material for subscribers. To have full access, access the link of the material and register.
Shell exits Cyprus Aphrodite gas field in $720m deal
Energy company Shell said on Friday it had agreed to sell its BG Cyprus unit to Hungarian oil and gas firm MOL Group for up to $720 million, as the British oil major sharpens its focus on LNG operations. BG Cyprus’ 35 per cent non-operated interest in a Cyprus Offshore block, home to the Aphrodite […]
The transaction is expected to close in the first half of 2027.
It will have a joint interest in a deep-sea gas field with the American Chevron and the Israeli NewMed.
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