Equinor and Shell today announced the appointment of Neil McCulloch as Chief Executive Officer and Nicoletta Giadrossi as Chair of their offshore UK Incorporated Joint Venture, Adura.

These appointments mark a key step in establishing Adura as the UK North Sea’s largest independent producer, underscoring the company’s focus on operational excellence, strong governance, and a clear vision for the future of UK oil and gas.

Neil McCulloch brings more than 30 years of leadership experience in the energy sector, with a strong track record in improving operational and safety performance. He is currently the CEO of Spirit Energy, and has championed the role of oil and gas in supporting the UK’s energy transition.

“I’m honoured to lead Adura at this pivotal moment,” said McCulloch. “Adura has a clear purpose — to deliver secure energy for the UK. I look forward to working with our talented team to build a business that is operationally excellent, future-focused, and grounded in strong values.”

Nicoletta Giadrossi is an experienced Chair and Non-Executive Director in listed and private companies in Energy and Infrastructure. She has led four boards and is currently chairing MSX International, a global company providing technical services to the mobility sector. Nicoletta is also a board member in Vopak NV, the global storage infrastructure company, and in Renew Global plc, the leading renewables producer in India.

“Adura represents a unique opportunity to shape the future of UK energy,” said Giadrossi. “I’m excited to work with Neil and the Board to ensure Adura delivers long-term value for all stakeholders — with safety, sustainability, and performance at its core.”

The creation of Adura was announced in December 2024, following the decision by Equinor and Shell to combine their UK offshore oil and gas assets into a new incorporated joint venture. Adura will sustain domestic oil and gas production and security of energy supply in the UK and beyond, headquartered at the Silver Fin building in Aberdeen city centre.

Work continues towards securing regulatory approvals, with launch of Adura anticipated by the end of 2025.

Shell and Equinor in the UK

• In the UK, Equinor currently produces approx. 38,000 barrels of oil equivalent per day; Shell UK produces over 100,000 barrels of oil equivalent per day. Adura is expected to produce over 140,000 barrels of oil equivalent per day in 2025.
• On deal completion, Adura will be jointly owned by Equinor (50%) and Shell (50%)
• Adura will include Equinor’s 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 will retain ownership of its cross-border assets, Utgard, Barnacle and Statfjord and offshore wind portfolio including Sheringham Shoal, Dudgeon, Hywind Scotland and Dogger Bank. It will also retain the hydrogen, carbon capture and storage, power generation, battery storage and gas storage assets.
• Shell UK will retain ownership of its interests in the Fife NGL plant, St Fergus Gas Terminal and floating wind projects under development - MarramWind and CampionWind. Shell UK will also remain Technical Developer of Acorn, Scotland’s largest carbon capture and storage project.
• Equinor employs around 300 people in oil and gas roles in the UK, while Shell employs approximately 1000 supporting its oil and gas business in the UK.

KeyFacts Energy: Shell UK country profile   l   Equinor UK country profile
KeyFacts Energy news: People on the Move