Shell completes sale of upstream interests in Denmark to Noreco for $1.9 billionChristian Fernsby ▼ | August 1, 2019
Royal Dutch Shell plc (Shell), through its affiliate Shell Overseas Holdings Limited, has completed the sale of its shares in Shell Olie-og Gasudvinding Danmark B.V. (SOGU), holding a 36.8% non-operating interest in the Danish Underground Consortium (DUC), to Norwegian Energy Company ASA (Noreco) for a consideration amount of $1.9 billion.
Shell Trading and Supply and Shell Energy Europe Limited will retain oil and gas lifting rights from the DUC assets for a period of time.
Shell retains its Downstream presence in Denmark through A/S Dansk Shell, which includes the Fredericia refinery. The network of Shell-branded retail stations in Denmark will continue to be operated by DCC. ■