Based in Aberdeen, Scotland, the joint venture "will be the UK's largest independent North Sea producer," the companies said in a statement.
The company "will be established to support local oil and gas production and security of energy supply in the UK," the statement said.
The joint venture is expected to produce more than 140,000 barrels of oil equivalent per day in 2025.
Equinor and Shell will each own a 50% stake in the new company.
Shell employs about 1,000 people in oil and gas positions in the U.K., compared with 300 at Equinor.
"Domestic upstream oil and gas is expected to play a significant role in the UK's future energy system," said Zoe Southwich, Shell's director of integrated upstream.
"To achieve this in an already mature basin, we are joining forces with Equinor, a partner for many years," Yujnovich said. | BGNES
