Equinor and Shell have merged their UK offshore oil and gas operations to form Adura, the largest independent producer in the UK North Sea.

Information on the Target

Equinor and Shell have successfully completed a strategic alliance to merge their UK offshore oil and gas operations, giving rise to a new entity named Adura. This venture aims to become the largest independent producer in the UK North Sea, leveraging the wealth of experience and resources from both parent companies. Neil McCulloch, the newly appointed CEO of Adura, brings over three decades of expertise in the energy sector and emphasizes the company's commitment to safety and future growth in the North Sea.

Adura is jointly owned by Equinor and Shell, each holding a 50% stake. The company aims to create a more cost-effective and competitive portfolio while maximizing the long-term value of UK energy assets. It inherits operational interests and projects from both organizations, encompassing 12 producing oil and gas assets, including significant projects like Mariner and Rosebank, and holds several exploration licenses.

Industry Overview in the UK

The UK offshore oil and gas industry has historically played a critical role in the country's energy landscape, significantly contributing to economic growth and energy security. As the i