Equinor and Shell Unite Forces to Dominate UK North Sea Oil and Gas

On Thursday, Equinor ASA (NYSE:EQNR) and Shell PLC (NYSE:SHEL) subsidiaries Equinor UK Ltd and Shell UK Ltd announced the plan to merge their U.K. offshore oil and gas assets to form the U.K. North Sea's largest independent producer.

This joint venture, based in Aberdeen, aims to enhance domestic oil and gas production and strengthen the U.K.'s energy security. The new joint venture will combine decades of U.K. North Sea expertise to address the basin's natural production decline.

By uniting portfolios, the company aims to enhance economic recovery, operating with greater agility, cost-efficiency, and strategic focus to maximize the value of U.K. Continental Shelf resources.

The new joint venture will focus on extending the life of key North Sea oil and gas fields and platforms. It will include Equinor's assets in Mariner, Rosebank, and Buzzard, alongside ...

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