The UK Government said yesterday it would not stand in the way of the China National Offshore Oil Corporation's takeover of Nexen.
Norwegian exploration firm Agora Oil and Gas said today it would be taking part in nine wells on the UK and Norwegian continental shelves in 2012.
ENERGY firms BP and EnQuest refused to comment yesterday on a report saying they were holding talks over the transfer of assets worth up to £400million.
Last month, the UK unit of Lundin Petroleum, partnered by Challenger Minerals and Revus Energy, successfully drilled the UKCS block 21/8 Torphins prospect. The 21/8-4 well penetrated a high-quality Paleocene reservoir sandstones and a sidetrack encountered encouraging signs of hydrocarbons.