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Equinor, Shell announce Adura executive team
Equinor and Shell have appointed the executive team for their joint venture Adura
Equinor and Shell have appointed the executive team for Adura, which will be responsible for managing oil and gas assets and growth in the UK sector of the North Sea.
Neil McCulloch is joining Adura as its chief executive from Spirit Energy.
“Adura has a clear purpose – to deliver secure energy for the UK,” he said. “I look forward to working with a talented team to build a business that is operationally excellent, future-focused and grounded in strong values.”
Mr McCulloch has also held senior positions with energy producers EnQuest, OMV and BG Group, which was acquired by Shell in 2015.
Nicoletta Giadrossi has been appointed chair of Adura, bringing decades of experience running companies in the energy and mobility sectors. She is currently chairing MSX International and RemCo and is a board member in terminals group Vopak and in Renew Global, a renewable energy producer in India.
“Adura represents a unique opportunity to shape the future of UK energy,” said Ms Giadrossi.
She has experience in subsea operations and offshore engineering, having held senior executive positions with Technip, Aker Solutions and Dresser-Rand.
Equinor and Shell created Aberdeen, Scotland-headquartered Adura in December 2024, to jointly manage their domestic oil and gas production assets.
They are working towards securing regulatory approvals, with the official launch of Adura anticipated by the end of 2025.
Joint venture details
Adura, to be jointly owned by Equinor (50%) and Shell (50%), is expected to produce over 140,000 barrels of oil equivalent per day in 2025.
It will include Equinor’s equity interests in Mariner, Rosebank and Buzzard; and Shell’s equity interests in Shearwater, Penguins, Gannet, Nelson, Pierce, Jackdaw, Victory, Clair and Schiehallion, as well as multiple exploration licences in the UK.
It will not include the other assets of these two companies in the UK.
Equinor will retain ownership of its cross-border assets, Utgard, Barnacle and Statfjord and offshore wind portfolio including Sheringham Shoal, Dudgeon, Hywind Scotland and Dogger Bank. The Norwegian state-backed energy group will also retain hydrogen, carbon capture and storage, power generation, battery storage and gas storage assets.
Shell UK will retain ownership of its interests in the Fife NGL plant, St Fergus gas terminal and floating wind projects under development - MarramWind and CampionWind. It will also remain technical developer of Acorn, Scotland’s largest carbon capture and storage project.
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