Shell and Equinor Form 50-50 UK North Sea Joint Venture to Create Largest Independent Oil and Gas Producer

Dec 5, 2024, 07:51 AM

Shell Plc and Equinor ASA are combining their UK offshore oil and gas assets into a new 50%-50% joint venture, forming the largest independent oil and gas producer in the UK North Sea. The joint venture aims to bolster domestic production and ensure energy security in the UK and is expected to produce approximately 140,000 barrels of oil equivalent per day in 2025.