Drilling was plentiful in the UK Continental Shelf during this year’s 2Q, according to a report by the Deloitte finance and consulting firm. However, not all areas of Europe saw increased activity.

Poland, Romania, and Ukraine are considered the top three European countries for shale gas investment opportunities with Poland placing first, a recently released KPMG report stated.

Chief Executive Aidan Heavey talked about Tullow Oil’s strategy and successes before the company revealed its 2012 half-yearly results July 25. So far this year, discoveries have opened new plays in Sierra Leone, Ghana, and Kenya.

Exploration activity in the West of Shetland area offshore the UK has been carried out for more than three decades, but now the upstream industry – encouraged by UK government incentives – appears ready to tackle the challenge of finding and developing fields in one of the world's harshest offshore environments.

If the US proves successful in unearthing natural gas from shale formations, the geopolitical structure with the world’s top energy producers could shift in the nation’s favor.