Equinor and Shell have completed a deal to combine their UK offshore oil and gas operations to form Adura, according to the statement. The new company, launched today, becomes the UK North Sea’s largest independent producer and is jointly owned by Shell (50%) and Equinor (50%).
Equinor’s executive vice president for Exploration and Production International, Philippe Mathieu, said: “Adura represents a new chapter in the UK North Sea, bringing together two strong portfolios and decades of experience. With the focus, scale and operational flexibility needed to succeed, the company is positioned for long-term impact.”
Adura takes over Equinor and Shell’s interests in 12 producing assets and projects in execution — Mariner, Rosebank, Buzzard, Shearwater, Penguins, Gannet, Nelson, Pierce, Jackdaw, Victory, Clair and Schiehallion — and holds exploration licenses. The company is headquartered in Aberdeen, with staff transferred from both parent firms. Adura employs about 1,200 people and is expected to produce over 140,000 barrels of oil equivalent per day in 2026.
According to data produced by Wood Mackenzie, Adura is expected to produce more oil and gas from the UK North Sea than any other producer in 2026.
Equinor will retain ownership of cross-border assets Utgard, Barnacle and Statfjord, as well as its offshore wind portfolio and its hydrogen, carbon capture and storage, power generation, battery storage and gas storage assets. Shell U.K. Limited will keep its interests and projects within the UK SEGAL system, the Bacton onshore gas terminal, multiple Southern North Sea assets, the Howe asset and assets that are post cessation of production.
Equinor is a Norwegian state-backed energy company operating globally in oil, gas and renewable energy. It develops offshore and onshore projects, invests in low-carbon technologies and manages a broad international portfolio across exploration, production and energy infrastructure.
Shell is a multinational energy group headquartered in the UK, engaged in exploration, production, refining and energy solutions across multiple regions. Its activities span hydrocarbons, chemicals and emerging low-carbon technologies, supported by a wide network of assets and joint ventures.
