The decision comes despite calls from environmental campaigners and the United Nations to halt the development of new fossil fuel projects.

This move emphasizes the region's role in the UK's broader energy security plans and accompanies the confirmation of 100 new North Sea oil and gas licenses.

The Z18 well, situated in the Carboniferous formation, is expected to boost Neptune's production from the Adorf license by approximately 1,900 barrels of oil equivalent per day (boed) to reach around 8,200 boed.

The EU Council has approved new regulations aimed at reducing carbon emissions in the maritime industry by encouraging the use of renewable and low-carbon fuels

OMV, the energy company, has confirmed the successful discovery of natural gas at the Wittau Tief-2a exploration well in Lower Austria.

Dolphin Drilling, an offshore drilling contractor, sees its recent acquisition of two semi-submersible rigs from Transocean as a promising sign of expansion, not only in the UK but also on a global scale.

WSG announced on Friday that it has successfully sold its Well Intervention division and plans to utilize the proceeds to lay the foundation for an upcoming phase of international expansion under the newly rebranded name, WSG Energy Services.

An $85 million dividend and a deal to sell a stake in aging North Sea oil wells for one dollar has landed Viaro Energy and its CEO, Francesco Mazzagatti, in a London lawsuit filed by Taqa.

While specific details about the discovery have not been disclosed, Ithaca Energy confirmed the presence of hydrocarbons in the reservoir within the Forties member sandstones, boasting an impressive 45 feet of net thickness.

This milestone marks a significant step in Neptune's ongoing efforts to expand its production capacity and enhance its business in the region.