Shell JV Awaits UK Decision on Key Fields

Shell U.K. is awaiting a British government decision on the Jackdaw and Rosebank offshore energy developments. The assets are managed by Adura, a joint venture owned 50% by Shell and 50% by Equinor UK. Ithaca Energy also holds a 20% interest in Rosebank. Adura confirmed on 11 September 2026 that public consultations concluded and the projects now await ministerial consent.

Both projects involve a combined capital investment of 10.8 billion GBP across their lifespan. Together, they are projected to generate 28 billion GBP in economic value for the UK economy. Tax revenue for the UK is forecast to reach 1.4 billion GBP by 2029, rising to a cumulative 3.8 billion GBP by 2034.

The developments are expected to support 3,500 jobs at peak construction and 880 operational roles over their operational lifespans. Across its total UK portfolio, Adura targets daily production of 140,000 barrels of oil equivalent per day in 2026.

At peak output, Jackdaw is forecast to produce 40,000 barrels of oil equivalent per day, representing 6% of total UK gas production. Rosebank is projected to reach peak daily production of 70,000 barrels of oil equivalent per day. Together, the two fields are estimated to supply 10% of total UK gas output and 10% of UK Continental Shelf oil production.