On July 31, the Hungarian oil and gas group reached an agreement with Shell to acquire its wholly-owned subsidiary BG Cyprus. The company has a 35% non-operating interest in the Aphrodite gas field in the Eastern Mediterranean Block 12 of Cyprus. The total consideration for the deal is up to US$720 million and is expected to close in early 2027. The project plans to make a final investment decision in 2027, and the first batch of natural gas is expected to be produced in 2031.

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