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Oil supermajor, Shell has entered into an agreement to sell its wholly-owned subsidiary in Denmark, Shell Olie-og Gasudvinding Danmark (SOGU), to Norwegian Energy Company (Noreco). SOGU has 36.8% ownership in the Danish Underground Consortium (DUC), which accounts for 90% of Denmark’s oil and gas production. Shell is seeking to simplify its portfolio as part of a $30billion divestment plan.
