Oil majors Equinor and Shell have said that they have chosen the name Adura for their incorporated joint venture in the UK.
Adura has been created to bring together the A of Aberdeen, the joint venture’s base of operations, and the ‘dura’ from durability. According to the statement from the two, 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 the UK subsidiaries of energy majors Equinor and Shell combined their offshore oil and gas assets and formed a new company, which, when approved, will become the UK North Sea’s biggest independent producer.
The JV includes Equinor’s equity interests in Mariner, Rosebank, and Buzzard as well as Shell’s equity interests in Shearwater, Penguins, Gannet, Nelson, Pierce, Jackdaw, Victory, Clair, and Schiehallion. A range of exploration licenses is also part of the transaction.
Equinor will retain ownership of its cross-border assets, Utgard, Barnacle, Statfjord, and its offshore wind portfolio. 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, two floating wind projects, and will remain the technical developer of the Acorn CCS project.
The new company is expected to produce over 140,000 barrels of oil equivalent per day in 2025. The JV will have around 1,300 people employed in oil and gas roles in the UK.
Work continues towards securing regulatory approvals, with the launch of the joint venture expected by the end of this year.
“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,” said Simon Roddy, SVP of Shell UK Upstream.
