Equinor and Shell launch UK North Sea oil and gas joint venture Adura

Equinor and Shell person launched a caller company, Adura, combining their UK offshore lipid and state operations.

The institution volition run arsenic an autarkic lipid and state shaper successful the UK North Sea.

Adura, jointly owned by Shell and Equinor, with each holding a 50% stake, is based astatine the Silver Fin gathering successful Aberdeen, Scotland.

The caller associated task (JV) volition absorption connected sustaining home lipid and state accumulation and supporting vigor proviso information successful the UK and beyond.

It takes connected Equinor and Shell’s interests successful 12 producing lipid and state assets and ongoing projects, on with respective exploration licences.

The projects are Buzzard, Clair, Gannet, Jackdaw, Mariner, Nelson, Penguins, Pierce, Rosebank, Schiehallion, Shearwater and Victory.

Equinor International exploration and accumulation enforcement vice-president Philippe Mathieu said: “Adura represents a caller section successful the UK North Sea, bringing unneurotic 2 beardown portfolios and decades of experience.

“With the focus, standard and operational flexibility needed to succeed, the institution is positioned for semipermanent impact.

“As owners, we are assured that Adura volition make semipermanent worth and reenforce the UK North Sea’s relation successful gathering the country’s vigor needs.”

Adura presently employs astir 1,200 radical and is expected to nutrient much than 140,000 barrels of lipid equivalent per time successful 2026.

According to Wood Mackenzie, Adura is projected to nutrient much lipid and state from the UK North Sea than immoderate different shaper successful 2026.

Equinor volition clasp ownership of cross-border assets specified arsenic Utgard, Barnacle and Statfjord, arsenic good arsenic its offshore upwind portfolio, including Sheringham Shoal, Dudgeon, Hywind Scotland and Dogger Bank.

The Norwegian institution volition besides support its hydrogen, c seizure and storage, powerfulness generation, and artillery and state retention assets.

Shell volition clasp assets successful the UK SEGAL system, including the Fife NGL Plant, St Fergus Gas Terminal and Braefoot Bay facility, arsenic good arsenic the Bacton onshore state terminal and respective assets successful the confederate North Sea.

The British lipid and state institution besides retains its involvement successful the Howe plus and respective assets that are post-cessation of production.

Shell accepted lipid and state enforcement vice-president Rich Howe said: “Forming the largest autarkic shaper unneurotic with Equinor is an historical infinitesimal for our concern and the UK vigor industry.

“With an exceptional plus basal and industry-leading expertise, Adura is well-positioned to pb successful this mature basin.”

In September this year, Equinor and Shell appointed Neil McCulloch arsenic CEO and Nicoletta Giadrossi arsenic seat of the caller Adura JV.