LONDON, May 23 (Reuters): Royal Dutch Shell has agreed to sell its stake in an offshore gas field in the Philippines for US$460 million as part of its strategy to narrow its oil and gas operations.
Shell sold its 45% stake in Service Contract 38 (SC38), a deep water licence which includes the producing Malampaya gas field, to a subsidiary of the Udenna Group which already holds a 45% stake in the project.
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