The British and Norwegian energy companies Shell and Equinor intend to combine the oil and its UK gas assets to form a joint venture, the Financial Times (FT) newspaper reported.
According to her information, the company will be founded by British subsidiaries of energy giants and will become a joint venture with equal participation - 50% in the capital. At the same time, Equinor will own stakes in three fields in the North Sea, and Shell – at nine.
According to the companies themselves, the new entity will become “the largest independent producer of [oil and gas] in the North Sea”. and will play a "critical role in securing Britain's energy supply".
The value of the transaction has not yet been announced.