The British oil sector is witnessing the emergence of a new player with the official announcement of Adura, a company created from the merger of the offshore assets of Equinor ASA and Shell plc in the North Sea. The new entity, named Adura to reflect Aberdeen’s roots and the notion of durability, represents a significant step forward in the organisation of commercial partnerships within the national energy sector. The joint announcement was made to teams on June 26, highlighting the completion of this strategic phase.
Resource consolidation for energy security
Adura will consolidate the oil and gas assets held in the United Kingdom by Equinor and Shell, with a production target exceeding 140,000 barrels of oil equivalent per day in 2025. Equinor is contributing its interests in the Mariner, Rosebank and Buzzard fields, while Shell is transferring its stakes in Shearwater, Penguins, Gannet, Nelson, Pierce, Jackdaw, Victory, Clair and Schiehallion. Additional exploration licences will be included in the transaction, strengthening the company’s long-term development capacity.
Adura’s headquarters will be located in Aberdeen, a city recognised for its engineering expertise and central role in the British energy supply chain. According to the terms of the deal, the joint venture will be equally owned by Equinor and Shell, each holding 50%. The parties indicate that Adura’s operational launch remains subject to regulatory approvals expected by the end of the year.
Asset sharing and maintenance of strategic portfolios
Some strategic assets remain outside the scope of the joint venture. Equinor will retain ownership of its cross-border installations, such as Utgard, Barnacle and Statfjord, as well as its projects in offshore wind, hydrogen, carbon capture and storage, and the production and storage of electricity and gas. Shell, for its part, will keep control of the Fife NGL plant, the St Fergus gas terminal, and its ongoing floating wind projects, including MarramWind and CampionWind. Shell will also remain technical developer for the Acorn carbon capture and storage project.
The new entity will bring together the expertise of nearly 1,300 employees, around 300 employed by Equinor and 1,000 by Shell in oil and gas activities in the United Kingdom. The leaders of both groups have highlighted the role of this commercial partnership in strengthening the local industrial fabric and supporting ongoing domestic energy supply.
Simon Roddy, Senior Vice President Shell UK Upstream, stated: “Adura takes a decisive turn with this new name, founded on a strong history in the North Sea and driven by the ambition to provide secure energy to the United Kingdom for many years to come.”
