Sevan Drilling, a Norway-based drilling contractor, had a disappointing third quarter when it comes to its rig fleet utilization.

Confidence in North Sea oil and gas activity has fallen to a six-year low, highlighting an "urgent need" for fiscal reform in the basin, according to a report published today (25 November).

Faroe Petroleum has sold its ten percent interest in the undeveloped Glenlivet gas field, West of Shetland, to Total.

Vroon has announced that, during ceremonies held today, November 25, at Fujian South East Shipyard (FSES) in Fuzhou, China, five of Vroon’s newbuilding vessels have been named.

Swiss company, Allseas have confirmed that their new offshore vessel the Pieter Scheite, is currently undertaking sea trials and is on-route to Rotterdam from South Korea.

GDF Suez has signed a contract with Idemitsu for the acquisition of 10% share in the license PL 420, in the North Sea.

Babcock has completed a second walk to work (W2W) contract with Total E&P UK, as part of the Elgin B and West Franklin wellhead platforms commissioning in the UK North Sea.

The peak price of oil may have passed, according to industry analysts Gaffney, Cline and Associates.

One person was killed and three others were injured in an explosion on an Oil Rig in the Gulf of Mexico yesterday according to the Bureau of Safety and Environmental Enforcement (BSEE).

Abu Dhabi: Suhail Bin Mohammad Faraj Faris Al Mazroui, Minister of Energy, has revealed that Abu Dhabi National Oil Company (ADNOC) has so far invested $70 billion (Dh257 billion) to develop new oil and gasfields and to boost the current output capacity of the UAE to 3.