Equinor, Shell complete UK North Sea E&P merger
Equinor and Shell have completed the combination of their respective UK offshore oil and gas operations, which will be managed by a new company named Adura.
This, the partners say, will be the UK North Sea’s largest independent producer, with a predicted output of more than 140,000 boe/d next year.
Adura’s portfolio comprises 10 producing offshore oil and gas fields—Mariner, Buzzard, Shearwater, Penguins, Gannet, Nelson, Pierce, Victory, Clair and Schiehallion—as well as the Rosebank and Jackdaw field developments. It also holds various exploration licenses.
Staff from both Shell and Equinor have transferred to the new entity, which employs about 1,200 people.
At the same time, Equinor will retain ownership of its producing fields and infrastructure crossing the UK/Norwegian North Sea median line, Utgard, Barnacle and Statfjord. It will also retain its UK offshore wind portfolio, hydrogen, carbon capture and storage, power generation, battery storage and gas storage assets.
Shell UK retains ownership of its interests and projects that form part of the UK’s SEGALgas gathering system—the Fife NGL Plant, St Fergus Gas Plant and the Braefoot Bay facility—and its interests in the Bacton onshore gas terminal on England’s east coast and multiple other assets in the southern North Sea
In addition, the company holds onto its interest in the Howe Field and others that have reached cessation of production.
