With the recovery in the offshore drilling market underway, Transocean has secured new long-term contracts for two of its ultra-deepwater drillships, adding over $1.24 billion to its backlog.

Two UK-headquartered and AIM-listed oil and gas companies, i3 Energy and Europa Oil & Gas, have completed a farm-in agreement (FIA) for a sub-area of UKCS Licence P.2358, containing the Serenity discovery in the North Sea, ahead of an appraisal well planned for September.

UK-based Parkmead Group has launched a farm-out process to find a partner for the development of an oil project in the North Sea, which is expected to bolster the UK’s energy security after production begins.

German oil and gas company Wintershall Dea has started production from its operated Nova oil field in the Norwegian sector of the North Sea.

Norwegian energy giant Equinor has seen a significant increase in its quarterly profit driven by bigger output and higher energy prices amid the energy security crisis.

UAE’s giant Abu Dhabi National Oil Company (ADNOC) has awarded two substantial contracts totalling $2 billion (AED 7.49 billion) to ADNOC Drilling for the Hail and Ghasha development project.

Oil major Shell has taken the final investment decision (FID) to develop the Jackdaw gas field in the UK North Sea, following regulatory approval earlier this year. However, the decision has already been met with strong opposition from environmental groups, seeking to stop its development.

Germany’s energy company Uniper received the funding notification of €2.375 million ($2.433 mln) for its planned hydrogen pilot project at the Krummhoern natural gas storage site.

he U.S. oil and natural gas rig count this week rose for a third week in a row as high prices encourage increased spending at the wellpad, boosting demand for some oilfield services companies.

While Norway recorded a slight increase in gas production in June 2022 compared to the figures from last month and the same period last year, the oil output took a downturn compared to figures from May 2022 and fell yet again behind the Norwegian Petroleum Directorate’s predictions.