Noreco takes over Shell's part of DUC in billion-dollar deal

After acquiring Shell's ownership stake in DUC, Noreco says it is prepared to invest more on the Danish continental shelf.

With the acquisition of Shell's ownership interest in the North Sea, Noreco has announced it is prepared to invest significantly in the Danish continental shelf, which has otherwise experienced stagnation in recent years, says Riulf Rustad, chairman of Noreco, in an interview after the Danish Energy Agency approved the USD 1.9 billion deal.

"We have great faith in the Danish shelf. We believe the Danish shelf has generally suffered from not so investment-friendly players, and we would like to represent something dfferent. We want to develop the Danish shelf and help create that development," he says.

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