The name of the UK North Sea’s largest independent oil and gas producer has been revealed today, marking a major milestone in the creation of the new company.
Equinor and Shell made the joint announcement to staff – with Adura chosen as the bold new presence for their incorporated joint venture (IJV).
With a long-standing presence in the North Sea, the two companies have collaborated closely to identify the new name – rooted in their respective heritage and focused on shaping the future of the basin in the years ahead. Adura has been created to bring together the A of Aberdeen and the dura of durability. It’s a company built on firm foundations, much like the strong granite synonymous with the city.
The creation of Adura follows the announcement in December 2024 that Equinor and Shell would be combining their UK offshore oil and gas assets and world-class expertise to form a new company.
Adura will sustain domestic oil and gas production and security of energy supply in the UK and beyond, headquartered at the Silver Fin building in Aberdeen city centre.
Aberdeen, the UK’s energy capital and a major centre of global engineering and supply chain excellence, is at the heart of operations and central to the name of Adura, alongside an enduring commitment to the future of energy from the North Sea.
Camilla Salthe, Senior Vice President Equinor UK Upstream. Photo: Arne Reidar Mortensen / Equinor
Work continues towards securing regulatory approvals, with launch of the IJV expected by the end of this year.
Camilla Salthe, Senior Vice President 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.'
Simon Roddy, Senior Vice President Shell UK Upstream, said:
'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.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.'
Background
- In the UK, Equinor currently produces approx. 38,000 barrels of oil equivalent per day; Shell UK produces over 100,000 barrels of oil equivalent per day. Adura is expected to produce over 140,000 barrels of oil equivalent per day in 2025.
- On deal completion, Adura will be jointly owned by Equinor (50%) and Shell (50%)
- Adura 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. A range of exploration licences will also be part of the transaction.
- Equinor will retain ownership of its cross-border assets, Utgard, Barnacle and Statfjord and offshore wind portfolio including Sheringham Shoal, Dudgeon, Hywind Scotland and Dogger Bank. It 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. Shell UK will also remain Technical Developer of Acorn, Scotland’s largest carbon capture and storage project.
- Equinor employs around 300 people in oil and gas roles in the UK, while Shell employs approximately 1000 supporting its oil and gas business in the UK
Source: Equinor
