Mol Revs Up for Pearl

摘要

Hungary's Mol is preparing to transfer 51,090 class "A" ordinary shares to the UAE's Dana Gas and Crescent Petroleum on a 50-50 ratio by Sep. 15 to finance part of its 10% stake in the Pearl project, which aims to develop the Khor Mor and Chemchemal gas fields in the Kurdish region of northern Iraq. Mol signed up to the venture, led by the two UAE companies, in May, alongside Austrian OMV, which agreed to pay $350 million to take a separate 10% interest in Pearl (IOD May 19,p1).