Equinor ASA (EQNR), a Norwegian energy company, on Monday said it has completed a deal to combine its UK offshore oil and gas operations with Shell plc (SHEL) into a new joint venture, Adura, which will become the UK North Sea's largest independent producer.
Adura is a 50 50 joint venture and will operate a cost-competitive portfolio aimed at maximizing long-term value from UK assets.
The entity assumes both companies' interests across 12 producing fields and projects under development, including Mariner, Rosebank, Buzzard, Shearwater, Penguins, Gannet, Nelson, Pierce, Jackdaw, Victory, Clair and Schiehallion, along with multiple exploration licences.
The new company is headquartered in Aberdeen, with staff transferring from both companies to retain operational expertise.
In the pre-market trading, Shell is 0.32% higher at $74 on the New York Stock Exchange.
In the pre-market trading, Equinor is 0.07% lesser at $22.90 on the New York Stock Exchange.
For comments and feedback contact: editorial@rttnews.com
Business News
May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.