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Shell Sells Aphrodite Gas Field Stake to MOL Group for Up to $720 Million

Shell has agreed to sell its 35% stake in the Aphrodite gas field offshore Cyprus to Hungary's MOL Group for up to $720 million, joining Chevron and NewMed as partners.

·Synthesised from 2 sources ·✓ Editor-verified

This article was drafted with AI assistance from multiple sources and was reviewed and approved by a human editor before publication.

Shell has agreed to sell its subsidiary BG Cyprus Ltd. to Hungary's MOL Group, a deal that transfers Shell's 35% non-operated interest in the Aphrodite gas field offshore Cyprus. The transaction is valued at up to $720 million.

Aphrodite, located in Cyprus Offshore Block 12, is one of the largest deepwater gas developments in the Eastern Mediterranean. With the acquisition, MOL Group becomes a partner in the project alongside Chevron and NewMed Energy.

The sale marks Shell's exit from the Aphrodite field, as the company continues to reshape its upstream portfolio. MOL's entry adds a new player to a project that has been central to regional gas ambitions.

Sources

  1. World Oil – Shell sells Aphrodite gas field stake to MOL in deal worth up to $720 million
  2. Energy-pedia news summary – Cyprus: Shell agrees to sell BG Cyprus to MOL Group for up to $720 million