High-profile oil and gas executives are teaming up with private equity funds seeking to invest billions in British North Sea assets and maximise profits by cutting costs, offering the ageing basin a badly needed lifeline.

THERE is an opinion that Ireland is missing its real opportunity to be a meaningful part of the international oil and gas exploration industry.

Tullow Oil has continued its non-core asset disposal programme by agreeing the sale of four Dutch -based gas assets for almost €63m.

Exploration firm Celtic Resources has completed an agreement with Victoria Oil & Gas Plc to sell their oil and gas exploration interests in Kazakhstan and the British North Sea.

Independent oil and gas exploration, development and production firm Tullow Oil plc has said it has decided to plug and abandon the Rasulpur-1 well in Bangladesh.