Shell and Equinor complete formation of Adura, which will be the UK’s largest independent North Sea producer

Shell U.K. Limited, part of Shell plc, and Equinor UK Limited, a subsidiary of Equinor ASA, have finalized an agreement to merge their UK offshore oil and gas operations into a newly established company. Launched today, Adura becomes the largest independent producer operating in the UK North Sea.

Neil McCulloch, appointed as Adura’s CEO, brings more than three decades of experience in the energy industry. Commenting on the launch, he said it is a rare opportunity to be involved at the very start of a company, noting that a strong safety culture, confidence in the future of the North Sea, and the combined capabilities of Equinor and Shell underpin Adura’s foundation. He added that he looks forward to working alongside the new team.

Adura is jointly owned by Shell and Equinor, each holding a 50% stake. The joint venture brings together decades of North Sea expertise, creating a more cost-efficient portfolio and aiming to unlock long-term value from UK assets.

Rich Howe, Shell’s Executive Vice President for Conventional Oil & Gas, described the formation of Adura as a landmark moment for both Shell and the UK energy sector. He emphasized that with a high-quality asset base and leading technical expertise, Adura is well placed to take a leadership role in this mature basin.

Equinor’s Executive Vice President for Exploration and Production International, Philippe Mathieu, said Adura marks a new phase for the UK North Sea by combining two strong portfolios and extensive operational experience. He highlighted that the company’s scale, focus, and flexibility position it for long-term success, adding that Equinor is confident Adura will deliver lasting value while supporting the UK’s energy needs.

Adura takes over Shell’s and Equinor’s interests in 12 producing oil and gas fields and projects under development, including Mariner, Rosebank, Buzzard, Shearwater, Penguins, Gannet, Nelson, Pierce, Jackdaw, Victory, Clair, and Schiehallion, along with several exploration licenses. Headquartered in Aberdeen, the company has integrated employees from both parent companies, ensuring the retention of industry-leading expertise.