Equinor and Shell have combined their UK offshore oil and gas operations, launching Adura
Adura has been formed after Equinor and Shell completed their transaction to combine their UK offshore oil and gas operations.
The Aberdeen, Scotland-headquartered company is jointly owned by Shell (50%) and Equinor (50%) to operate assets and fields in the North Sea and west of Shetland including the Mariner heavy oil field, Penguins, Gannet and Pierce fields, Nelson, Buzzard and Shearwater platforms in the North Sea, and the Clair, Schiehallion and Victory fields west of Shetland, plus the Rosebank and Jackdaw developments.
Adura will also hold several exploration licences, and is expected to produce more than 140,000 barrels of oil equivalent per day in 2026, making it the most productive in the UK North Sea in 2026.
“Adura represents a new chapter in the UK North Sea, bringing together two strong portfolios and decades of experience,” said Equinor executive vice president for exploration and production outside of Norway, Philippe Mathieu.
“With the focus, scale and operational flexibility needed to succeed, the company is positioned for long-term impact.”
Its first will be achieving regulatory approval to continue with the deepwater oil development of Rosebank, which is expected to include a network of subsea wells and infrastructure tied into a floating production storage and offloading (FPSO) vessel.
Then the Jackdaw gas-condensate resources in the North Sea will be developed using a fixed production platform and new pipelines.
“Forming the largest independent producer, together with Equinor, is a historic moment for our business and the UK energy industry,” said Shell executive vice president for conventional oil and gas, Rich Howe. “With an exceptional asset base and industry-leading expertise, Adura is well-positioned to lead in this mature basin.”
This transaction does not include Equinor’s cross-border assets of Utgard, Barnacle and Statfjord and its offshore wind portfolio including Sheringham Shoal, Dudgeon, Hywind Scotland and Dogger Bank.
These will be retained by Equinor, along with its hydrogen, carbon capture and storage, power generation, battery storage and gas storage assets.
Shell UK will retain ownership of its interests and projects that are part of the UK SEGAL distribution system, namely Fife NGL plant, St Fergus gas terminal and the Braefoot Bay facilities; in the Bacton onshore gas terminal and multiple assets in the southern North Sea; and assets that are post cessation of production.
Neil McCulloch, with more than 30 years’ experience in the energy sector, will lead Adura as chief executive.
“It is a rare privilege to be part of a company’s first chapter,” he said. “A commitment to safety, a belief in the future of the North Sea, and the combined expertise from Equinor and Shell form the foundation of our new company.”
Riviera’s Annual Offshore Support Journal Conference, Awards & Exhibition 2026 will be held in London on 3-4 February 2026. Use this link for more information and to register for the event.
Events
© 2024 Riviera Maritime Media Ltd.