MOL completes Ithaca Norge acquisition

MOL Group, Budapest, has completed its acquisition of Ithaca Petroleum Norge from Ithaca Energy Inc. for $60 million plus possible bonuses of up to $30 million if exploration is successful.

The acquired company holds 14 exploratory licenses offshore Norway.

The initial payment earlier was reported incorrectly as $600 million (OGJ Online, Apr. 24, 2014).