Independent oil and gas explorer Enegi Oil has agreed to farm-out part of a North Sea block also containing the Phoenix discovery to Azimuth.
A north-east technology specialist for the oil and gas industry, Red Spider, has been sold to US oil service giant Halliburton in a deal understood to be worth up to £40million.
New estimates of how much oil and gas can be extracted from the UK North Sea show it may not reach its potential.
Taqa Bratani said yesterday oil had been found in the Contender prospect well in the UK northern North Sea.
New well-intervention processes and technologies are vital for oil and gas companies seeking to unlock the full potential of their wells, sustain production and arrest the decline of ageing reserves.
The north and north-east's energy industry has been urged to work through security problems in Nigeria and recognise opportunities in the country.
Falklands oil and gas explorer Rockhopper has raised its estimate of how much oil it has in its Sea Lion discovery, despite its latest well being dry.
Energy firm Lansdowne Oil and Gas said yesterday it had raised more than £6million for drilling an appraisal well in the Celtic Sea.
Norwegian semi-state operator Statoil is planning to build a new generation mobile offshore drilling unit that is tailored to Norwegian Continental Shelf mature field conditions.
Rockhopper Exploration, an oil and gas explorer focused 100% on the South Atlantic, yesterday said it planned to raise £200million to carry on its work off the Falkland Islands.