The uncertainty over Rosebank also comes as Equinor and Shell reshape their UK portfolios. The two companies are merging their offshore businesses under a new joint venture, Adura, which will become the country’s largest independent oil and gas producer. Announced in late 2024 and set to be completed at the end of 2025, the merger will be shared 50/50 between the partners. Equinor has framed the move as a way to reduce risk exposure while gaining scale, with Adura expected to rank as the UK’s second-largest producer after Harbour Energy. The new entity is designed to be more agile, cost-competitive, and better positioned to extend the life of existing fields — a strategy that underscores the tension between bolstering energy security and navigating stricter climate regulation.
