July 8, 2008
MOL Acquires Tullow’s 40% Interest in Ngosso Permit
MOL Hungarian Oil and Gas has successfully acquired the UK-based exploration and production company Tullow Oil's 40% non-operated interest in the Ngosso Permit, offshore Cameroon.
MOL had signed the sale and purchase agreement with Tullow Cameroon in November 2007. The operator of the block chose not to exercise its pre-emption right, following which the government of Cameroon gave its approval for the transaction.