Shell and Norway's Equinor Merge UK North Sea Assets to Form Largest Independent Oil and Gas Company

Dec 5, 2024, 09:10 AM

Shell Plc and Norway's Equinor ASA have agreed to combine their UK offshore oil and gas assets to form Britain's largest independent oil and gas company. The 50-50 joint venture aims to bolster domestic energy production and enhance the UK's energy security. The new entity will become the biggest independent producer in the UK North Sea, expected to produce approximately 140,000 barrels of oil equivalent per day in 2025. The joint venture will be equally owned by both companies.