Name unveiled for Shell–Equinor JV set to dominate UK North Sea production

Two energy heavyweights, the UK’s Shell and Norway’s Equinor, have revealed the name of their incorporated joint venture (IJV), which they say will be the largest independent oil and gas producer in the UK North Sea.

Combining the first letter of Aberdeen and the first part of the word ‘durability,’ the new name will be Adura. According to Equinor, the company is built on firm foundations, much like the strong granite synonymous with the city.

As both players have a long-standing presence in the North Sea, they say the name is rooted in their respective heritage, while focusing on shaping the future of the basin in the years to come.

Camilla Salthe, Senior Vice President at Equinor UK Upstream, said: “We are so pleased to have reached this major milestone in the creation of the new company with Shell. For us, the name Adura represents the very heart of this company and speaks to its people and place within the energy community anchored in Aberdeen, alongside its longevity and commitment to the North Sea.”

Equinor and Shell announced the combination of their UK offshore oil and gas assets to form a new company in December 2024. The duo now says work is underway to secure regulatory approvals, with the launch expected by the end of this year. Once the deal is completed, Adura will be 50:50 owned by the two companies.

As disclosed, Adura will sustain domestic oil and gas production and the security of energy supply in the UK and beyond, with its headquarters in Aberdeen. The city, seen as the UK’s energy capital, is at the heart of operations and central to the name of Adura. It also symbolizes the JV’s commitment to the future of energy from the North Sea.

“Adura takes an exciting step forward today as we unveil its new name – rooted in a proud history in the North Sea and looking forward with confidence to delivering secure energy for the UK for many years to come,” noted Simon Roddy, Senior Vice President at Shell UK Upstream. “When Adura launches later this year it will become the UK’s largest independent producer. Through combining assets and expertise, we will create a robust portfolio, with a shared purpose, to unlock long term value.”

The new company will include Equinor’s equity interests in Mariner, Rosebank, and Buzzard, and Shell’s equity interests in Shearwater, Penguins, Gannet, Nelson, Pierce, Jackdaw, Victory, Clair, and Schiehallion. Various exploration licenses will also form part of the transaction.

Cross-border assets Utgard, Barnacle, and Statfjord, and offshore wind portfolio, including Sheringham Shoal, Dudgeon, Hywind Scotland, and Dogger Bank, will remain in Equinor’s ownership. The firm will also retain the hydrogen, carbon capture and storage, power generation, battery storage, and gas storage assets.

Shell UK will retain ownership of its interests in the Fife NGL plant, St Fergus gas terminal, and floating wind projects under development: MarramWind and CampionWind. The company will also remain the technical developer of Acorn, described as Scotland’s largest carbon capture and storage project.

While this business combination is going according to plan, Shell recently addressed the rumors about a potential merger with BP that have been circulating in the media. The UK major denied the speculations, saying that it has not been actively considering making an offer for BP, nor have any talks taken place between the duo regarding a possible offer.

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