EnergyWatch

Media: Shell pulls out of the Danish North Sea

Shell will sell its shares in the Danish Underground Consortium (DUC), which holds the majority of oil production in the Danish North Sea shelf. This is according to news media Reuters based on information disclosed by three anonymous bank sources.

Photo: Royal Dutch Shell PR

Dutch-British oil giant Shell may finally be pulling out of Denmark.

According to news media Reuters, the oil company will sell its shares in the Danish Underground Consortium (DUC), a joint venture between the Danish state and several major players, including the Maersk Group.

The shares are worth approximately USD 1 billion and practically speaking the sale will mean that Shell abandons the Danish share of the North Sea.

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