BUDAPEST--MOL sold its 50% stake in the holder of the
Zapadno‐Malobalykskoye hydrocarbon license in Russia in line with
its portfolio optimization scheme, MOL announced in a stock
exchange filing late Monday.
MAIN FACTS:
- MOL is also in negotiations about selling its 100% stake in
the company that owns the exploration license of Surgut‐7 block in
Western Siberia, also in Russia.
- The Surgut‐7 exploration block is strongly linked to
Zapadno‐Malobalykskoye infrastructure and therefore it could be
part of a favorable package deal, MOL said.
- Crude oil production has been falling in the
Zapadno‐Malobalykskoye field for years as it's a mature field. It
reached its peak production level in 2005, the statement said.
- "MOL remains very committed to continue its operations in
Russia with more focus on Baitugan and Matyushinsky blocks and has
the financial flexibility to re‐invest in promising new upstream
assets to provide future growth in the region and beyond," the
statement said.
- MOL finished trading down 0.9% or HUF150 at HUF16,300
Monday.
Write to Veronika Gulyas at veronika.gulyas@wsj.com
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