Shell and Equinor have officially named their UK North Sea oil and gas joint venture as ‘Adura’, the companies announced on Thursday.
Formed in December 2024, Adura is set to become the largest oil and gas producer in the UK North Sea, according to the companies. Current production stands at around 140,000 barrels of oil equivalent per day (boed), comparable to that of Harbour Energy, the UK’s largest independent oil and gas company. The joint venture aims to increase output to over 200,000 boed within the next five years.
Equinor will contribute tax efficiencies to Adura, while Shell’s larger oil and gas production portfolio will enhance the joint venture’s cash flow as it develops new projects, including the high-profile Rosebank oil field, which has faced criticism from climate groups in Britain.
The name ‘Adura’ was chosen as a blend of ‘Aberdeen’, the hub of the UK oil industry, and ‘durability’, reflecting the venture’s long-term operational focus, the companies said.
Both Shell and Equinor hold a 50% stake in the new entity. Subject to regulatory approvals, Adura is expected to formally launch by the end of this year.
