Equinor UK and Shell UK are joining forces to create the UK North Sea’s largest independent oil and gas producer.
Combining their offshore assets and expertise into a 50/50 joint venture, the new company will focus on sustaining domestic oil and gas production, ensuring the UK’s energy security and maximising the value of the maturing UK Continental Shelf.
Operating from Aberdeen, the partnership aims to extend the life of vital North Sea oil and gas fields. By pooling resources, the venture will operate as a more agile, cost-effective entity that is better equipped to manage the basin’s natural production decline.
Equinor and Shell will remain key players in the UK energy market but as partners rather than individual operators. The deal is self funded.
