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2019-08-01 11:50:00

SHELL SELLS $1.9 BLN

SHELL SELLS $1.9 BLN

SHELL Jul 31, 2019 Shell completes sale of upstream interests in Denmark to Noreco for $1.9 billion

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.

Completion of the sale follows receipt of regulatory approval by the Danish authority. The transaction's effective date is 1 January 2017.

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.

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