Mol and Shell have signed a major deal.
The MOL Group has signed a $720 million agreement with Shell, which allows it to acquire a 35 percent stake in the Aphrodite gas field in the 12th block in the Cypriot Exclusive Economic Zone. The estimated value of the project is approximately 104 billion cubic meters of natural gas, and production is expected to begin in 2031. This transaction represents the largest growth opportunity for MOL’s Research and Production business since its entry into Azerbaijan in 2019.
The MOL Group has signed a $720 million agreement with Shell, which will give it a 35 percent stake in the Aphrodite gas field in the 12th block of the Cypriot Exclusive Economic Zone. The estimated value of the project is approximately 104 billion cubic meters of natural gas, and production is expected to begin in 2031. The transaction is the largest growth opportunity for MOL’s Research and Production business since its entry into Azerbaijan in 2019.
