News Archive for: July 2012

French company CGGVeritas jumped back into the black during the first half of the year as it forecast revenues to continue growing for the remainder of the year.

The company posted a net profit of $30.3 million for the first six months of the year, recovering from a net loss…

The European Commission’s intention to improve safety in offshore oil and gas across Europe by using the UK’s best practices should be welcomed. However, the form of legislation proposed would have the opposite effect and undo decades of established regulatory experience – putting the safety of workers at risk,…

A happy conclusion to drilling at its King Lear exploration well in the North Sea has helped Statoil of Norway maintain confidence in raising its overall output levels by half a million barrels a day by the end of the decade.

Helge Lund, chief executive, said a combination of increased…

UK explorer Centrica Resources has said preliminary results from its Cooper well in the Norwegian Sea have confirmed the presence of oil.

The UK explorer is working to assess the size and commercial potential of the find, wit hthe results of further evaluation of the reservoir are expected in the…

Centrica plc, the parent company of British Gas, welcomes today’s announcement from the Government on the shallow water gas field allowance, an important step forward in ensuring that the UK can maximise the potential of its natural resources in the North Sea.

The allowance will enhance the economics of the…