Gulf Oil and Gas accountACCOUNT

Shell Completes Sale of Upstream Interests in Denmark for $1.9B

Source: www.gulfoilandgas.com 7/31/2019, Location: Europe

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.

Notes to editors

- The transaction is an agreement by Shell Overseas Holdings Limited with Altinex AS, a subsidiary of the Norwegian Energy Company ASA (Noreco).

- The transaction includes mechanisms to adjust the consideration for actual over-or underproduction above or below certain thresholds.

- The transaction includes a 100% interest in Shell Olie-Og Gasudvinding Denmark Pipelines ApS (“SOGUP”) held by SOGU. SOGUP owns a 41.4% interest in the Tyra West – F3 gas pipeline.

Acquisitions and Divestitures News in Denmark >>

Australia >>  5/28/2020 - Santos is pleased to announce it has completed the acquisition of ConocoPhillips’ northern Australia and Timor-Leste assets for a reduced purchase pri...
Iraq >>  5/28/2020 - Genel Energy plc ('Genel') announces that payments have been received from the Kurdistan Regional Government for oil sales during April 2020. ...

Uganda >>  5/28/2020 - Tullow Oil plc announces that CNOOC Uganda Limited (CNOOC) has informed both Tullow and Total that it will not pre-empt the sale of Tullow's assets in...
Australia >>  5/27/2020 - Oilex Limited (Oilex or the Company) is pleased to announce that it has signed a conditional binding Heads of Agreement (HOA) with Armour Energy Limit...

Australia >>  5/27/2020 - ConocoPhillips announced the completion of the sale of its subsidiaries that hold its Australia-West assets and operations to Santos. The total consid...
Cuba >>  5/27/2020 - Highlights:
- Farm-in Agreement for Block 9 PSC in Cuba executed with Sonangol, the National Oil Company of Angola and Africa’s 2nd largest oil p...


Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Denmark Oil & Gas 1 >>  2 | 3 |

More News

Related Links

Gulf Oil and Gas
Copyright © 2020 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.