Shell and Equinor to combine UK assets

Business and Finance Business and Finance

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Shell and Equinor to combine UK assets

^{Published on 2024-12-05 15:30:58 - Upstream}

Joint venture will create largest UK oil and gas producer, with a combined estimated output of 140,000 boepd in 2025

Shell and Equinor have agreed to combine their respective oil and gas assets in the UK North Sea, creating a new joint venture aimed at enhancing operational efficiency and extending the life of these mature fields. This strategic partnership will merge Shell's assets, including the large-scale Nelson platform, with Equinor's holdings like the Mariner field. The deal, which is subject to regulatory approval, is expected to reduce costs, optimize production, and potentially unlock new investment opportunities in the region. The joint venture will be operated by both companies, with Shell holding a 50% interest and Equinor the remaining 50%. This move is part of a broader industry trend towards consolidation to manage declining production and high operational costs in aging oil fields.

Read the Full Upstream Article at:
[ https://www.upstreamonline.com/finance/shell-and-equinor-to-combine-uk-assets/2-1-1748980 ]

N@N

Shell and Equinor to combine UK assets