Equinor has awarded framework contracts valued at 100 billion Norwegian crowns over five years to a consortium of vendors for maintenance and modification services across its offshore and onshore platforms. The agreements, effective January 2026, cover planned turnarounds, integrity projects and brownfield modifications on installations in the North Sea and the Norwegian continental shelf. By locking in service rates and payment terms, Equinor aims to secure a stable supply chain, reduce cost volatility and streamline project execution. The deal is expected to support more than 2,000 direct contractor jobs and contribute to predictable capital expenditure, bolstering investors’ visibility on maintenance spending through 2031.

Equinor and Shell have finalized the merger of their U.K. offshore exploration and production operations into a new joint venture named Adura. The transaction combines Equinor’s central North Sea assets, which hold approximately 1.2 billion barrels of oil equivalent in developed and undeveloped reserves, with Shell’s U.K. upstream portfolio. Adura will operate under a unified management team headquartered in Aberdeen and is expected to achieve annual synergies of up to $400 million by optimizing drilling schedules, consolidating logistics and harmonizing digital platforms. The venture positions both companies to capitalize on late-life field opportunities and future carbon-capture integration, potentially enhancing free cash flow generation in the high-margin U.K. sector.