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Dec 1, 2025 12:00 PM

Shell, Equinor Form JV To Lead UK North Sea Oil Production

Shell PLC (NYSE:SHEL) has finalized a deal with Equinor ASA (NYSE:EQNR) to merge their U.K. offshore oil and gas operations into a new company called Adura.

The new company was launched on Monday and is expected to be the largest independent producer in the North Sea.

Equinor will retain its cross-border assets—Utgard, Barnacle, and Statfjord—as well as its offshore wind portfolio, plus hydrogen, carbon capture and storage, power generation, battery storage, and gas storage assets.

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