Shell and Equinor plan to combine forces in North Sea
Equinor said the joint venture would include its equity interests in Mariner, Rosebank and Buzzard, and Shell’s equity interests in Shearwater, Penguins, Gannet, Nelson, Pierce, Jackdaw, Victory, Clair and Schiehallion.
A range of exploration licences will also be part of the transaction.
Equinor’s executive vice president for exploration and production international, Philippe Mathieu, said: “Equinor has been a reliable energy partner to the UK for over 40 years, providing oil and gas, developing the offshore wind industry, and advancing decarbonisation.
“This new entity will play a crucial role in securing the UK’s energy supply.”
The company would be a 50-50 joint venture.
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