Trade association UK Oil & Gas has warned that production in the UK Continental Shelf is "at a tipping point" because of record low oil prices, and faces a "day of reckoning" unless Chancellor George Osborne introduces a friendlier fiscal regime in next week's Autumn Statement.

Technip has won a lumpsum contract with Statoil for the Gullfaks Rimfaksdalen (GRD) marine operations pipelay and subsea installation project.

Much debate has been had about the future of the oil and gas industry within the UK and to the outside observer it would be easy to believe the industry is in rapid decline with the falling oil price only contributing to the problem.

As operator for Dansk Undergrunds Consortium (DUC), Maersk Oil has drilled the exploration well Siah NE-1X (5505/7-17) in the western part of the Danish North Sea.

SeaBird Exploration, a seismic survey company, has recorded a net loss of $20.

Statoil will become operator for all phases of the massive Johan Sverdrup field in the North Sea, offshore Norway.

Brazilian national oil company Petrobras has completed the drilling of the first appraisal well in the Libra Consortium area, the 3-BRSA-1255 (3-RJS-731), known as NW1, offshore Brazil.

DOF ASA has been awarded five new platform supply vessel (PSV) contracts.

Shetland Coastguard has flown an injured worker from the North Cormorant platform in the UK North Sea.

Companies operating in the North Sea require a cultural shift to make the most of its potential, according to a new report from Deloitte, the business advisory firm.