Shell and Equinor Unveil New Joint Venture Name: Adura

Two energy heavyweights, the UK’s Shell and Norway’s Equinor, have announced the name of their incorporated joint venture (IJV) that will become the largest independent oil and gas producer in the UK North Sea. The new entity will be known as Adura, a name formed by combining the first letter of Aberdeen and the word ‘durability.’

According to Equinor, the name Adura reflects the strong foundations of the company, much like the granite synonymous with Aberdeen. Both companies have a long-standing presence in the North Sea, and the name Adura is rooted in their heritage while focusing on shaping the future of the basin.

Camilla Salthe, Senior Vice President at Equinor UK Upstream, expressed her excitement about the new venture, stating, “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 assets in December 2024 to form Adura, with plans to launch by the end of the year pending regulatory approvals. Once established, Adura will be equally owned by the two companies.

The new company will be headquartered in Aberdeen, emphasizing its commitment to sustainable energy production in the UK and beyond. Adura aims to secure energy supply and contribute to the future of energy from the North Sea.

Simon Roddy, Senior Vice President at Shell UK Upstream, highlighted the significance of Adura, saying, “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 to unlock long-term value.”

Asset Portfolio and Future Plans

Adura will incorporate Equinor’s interests in Mariner, Rosebank, and Buzzard, along with Shell’s equity in Shearwater, Penguins, Gannet, Nelson, Pierce, Jackdaw, Victory, Clair, and Schiehallion. Various exploration licenses will also be part of the transaction.

Additionally, Equinor will retain ownership of cross-border assets Utgard, Barnacle, and Statfjord, as well as its offshore wind portfolio. Shell UK will keep its interests in the Fife NGL plant, St Fergus gas terminal, and floating wind projects. Both companies will continue to focus on hydrogen, carbon capture and storage, power generation, and other energy assets.

Addressing Rumors and Future Outlook

While the business combination progresses smoothly, Shell recently denied rumors of a potential merger with BP. The company clarified that it has not been actively considering making an offer for BP, and no talks have taken place regarding a possible offer.

As Adura prepares to launch as the leading independent oil and gas producer in the UK North Sea, the joint venture between Shell and Equinor signals a strong commitment to the region’s energy future. The name Adura reflects a blend of heritage, durability, and a vision for sustainable energy production, rooted in the heart of Aberdeen.