Shell and Equinor tie-up to create new UK oil and gas producer

Shell said the deal was intended to sustain domestic oil and gas production and security of energy supply in the UK (Yui Mok/PA) - (PA Wire)

Shell and Equinor have said they will combine their offshore oil and gas assets in the North Sea to create a new company with 1,300 employees.

Based in Aberdeen, it will be the North Sea’s biggest oil and gas producer and is expected to produce more than 140,000 barrels of oil equivalent (BOE) per day next year.