Equinor and Shell launch Adura, UK North Sea independent producer
- 50/50 joint venture between Shell and Equinor.
- Adura will be the UK North Sea’s largest independent producer.
- Adura assumes interests in 12 producing assets and projects in execution, including Mariner, Rosebank, Buzzard, Shearwater and Clair.
- Headquartered in Aberdeen; staff from both Shell and Equinor have transferred into Adura and Neil McCulloch is CEO.
Transaction and ownership
Equinor and Shell have completed a deal to combine their UK offshore oil and gas operations into a new company, Adura. The joint venture is owned 50% by Shell and 50% by Equinor.
Scale and assets
Adura takes on interests in 12 producing assets and projects in execution, including Mariner, Rosebank, Buzzard, Shearwater, Penguins, Gannet, Nelson, Pierce, Jackdaw, Victory, Clair and Schiehallion, and holds several exploration licences. The company is described as the UK North Sea’s largest independent producer.
Leadership and positioning
Neil McCulloch has been appointed CEO; the article notes he brings more than 30 years' experience in the energy sector. Executives from both owners framed Adura as a focused, scale-oriented operator positioned to deliver a cost-competitive portfolio and long-term value for UK assets.
Operations and staffing
Adura is headquartered in Aberdeen and staff from both Shell and Equinor have transferred into the new company to retain operational expertise.
Source: Equinor