Shell U.K. Limited, a subsidiary of Shell (SHEL) and Equinor UK, a subsidiary of Equinor (EQNR), have completed a deal to combine their UK offshore oil and gas operations to form a new company. Adura, which launched today, will be the largest independent producer in the UK North Sea. Adura, jointly owned by Shell (50%) and Equinor (50%), combines decades of North Sea expertise into a joint venture that is positioned to deliver a more cost-competitive portfolio and maximize long-term value for UK assets.
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