Equinor and Shell have formalized the creation of Adura, a joint venture that will combine their oil and gas assets in British North Sea waters, promoting it as the country’s largest independent producer.
Adura’s joint venture
From its headquarters in the Silver Fin building in Aberdeen, the joint venture will manage projected production in excess of 140,000 barrels of oil equivalent per day by 2025. The new entity will integrate critical infrastructure and the technical and operational expertise of two of the most experienced players in the region.
The city of Aberdeen acts as the historical and operational hub of the UK’s offshore energy British offshore energy. In fact, the name “Adura” reflects that connection: “A” for Aberdeen and “dura” for the durability and strength associated with its solid granite.
Equinor will integrate Mariner, Rosebank and Buzzard. Shell will contribute facilities such as Penguins, Shearwater, Nelson and Jackdaw, among others. The combination seeks to consolidate efficiency and strengthen domestic supply.
Adura is introduced as a strategic player that will contribute to secure supply through local resources, while maintaining compatibility with energy transition policies. It is important to highlight that neither Shell nor Equinor will include their wind, carbon capture or hydrogen assets in Adura, keeping them as separate lines.
Pending regulatory approvals, Adura is expected to officially commence operations later this year. Ownership will be split equally: 50% to Equinor and 50% to Shell.
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Source and photo: Equinor
