Equinor and Shell have completed the transaction to combine their UK offshore oil and gas operations into a new 50/50 joint venture company named Adura. The new entity was formally launched on December 1, 2025, and is now the UK North Sea’s largest independent producer.
The company is headquartered in Aberdeen, Scotland, and employs approximately 1,200 people who have transferred from both Shell and Equinor.
Neil McCulloch has been appointed as the CEO, and Nicoletta Giadrossi as the Chair.
Adura has assumed interests in 12 producing oil and gas assets and projects in execution, including Mariner, Rosebank, Buzzard, Shearwater, Penguins, and Clair. It also holds several exploration licenses.
The company is expected to produce over 140,000 barrels of oil equivalent per day by 2026.
Both Equinor and Shell will retain ownership of specific non-combined assets, such as Equinor’s offshore wind portfolio and cross-border fields, and Shell’s onshore gas terminals and certain Southern North Sea assets.
Note by Alessandro Bazzoni