05:12 AM EDT, 07/31/2026 (MT Newswires) -- Shell (SHEL) has agreed to sell its wholly owned subsidiary BG Cyprus to MOL Group for up to $720 million, subject to customary adjustments and milestone-linked contingent payments, the company said Friday.

BG Cyprus holds a 35% non-operated interest in Cyprus Offshore Block 12, which contains the Aphrodite natural gas field. Upon closing, MOL will assume Shell's rights and obligations associated with the stake.

The transaction is expected to close in early 2027, it added.