Russian independent Lukoil has sold its 50% stake in Kazakh venture Caspian Investment Resources to China’s Sinopec for $1.2 billion. The venture was created in 2005 through Lukoil’s acquisition of Canada’s Nelson Resources. It holds stakes in four Kazakzh onshore oil projects – Alibekmola & Kozhasai, North Buzachi, Karakuduk and [...]

Norwegian flotel contractor Prosafe has gained a four-month contract with US oil major ConocoPhillips to deploy its accommodation unit Safe Bristolia at the Judy field in the UK North Sea. The accommodation support vessel is to start operations at the Houston-headquartered explorer’s gas field in May for a firm period [...]

The Philippines Department of Energy announced that it had approved the SC6 Cadlao 2014 work programme, which would allow joint venture partners to move ahead with the project. Partner VenturOil gave Peak the letter which was sent by the DOE, clearly granting “approval for the implementation of the 2014, as [...]

Norway’s NorYards has secured outfitting work worth Nkr650 million ($110 million) with NDFS Offshore for a newbuild anchor-handling tug supply vessel currently under construction at a Chinese yard. The contract will be carried out at the fabrication group’s Fosen facility on Norway’s west coast that was formerly part of the [...]

French seismic contractor CGG has kicked off an extensive shoot in the northern North Sea.that it claims is the largest multi-client 3D survey ever carried out off Norway. The so-called Horda survey, being shot by CGG’s vessel Viking Vanquish using its proprietary BroadSeis and BroadSource technologies, spans a total area [...]

Irish contractor Kentz has scooped another $571 million contract to work on Inpex’s giant Ichthys liquefied natural gas project in Australia. Irish contractor Kentz has scooped another $571 million contract to work on Inpex’s giant Ichthys liquefied natural gas project in Australia. The London-listed player has been signed by engineering, [...]

Saipem is reported to have lost steel pipe into the sea while carrying out installation work at the Roncador field off Brazil, dealing a blow to state-owned operator Petrobras’ bid to boost output from the Campos basin project. The Italian pipelay contractor dropped the 2.3-kilometre steel pipe after rigging used [...]

AIM-listed Green Dragon Gas has signed an agreement with the coalbed methane-focused subsidiary of China National Offshore Oil Corporation to collaborate on five production sharing contracts. Green Dragon, which is focused on the CBM industry in China, has entered into a binding agreement with China United Coalbed Methane Corporation (CUCBM) [...]

Norwegian oil and gas services player NorSea is adding to its stable with the purchase of a company from Danish conglomerate AP Moller-Maersk. Base and logistics supplier Danbor will add Danish operations and wind power market capabilities to NorSea through the deal, the value of which was not disclosed. Danbor [...]

"Highly disruptive and unacceptable" hydraulic fracturing operations in the UK are “almost certainly” the reason for the alarming slide in fortunes at English Premier League football giants Manchester United, their manager has claimed. Near “daily” earth tremors and the diversion of water supplies to shale gas exploration sites have led [...]

British oil major BP has appointed former TNK-BP senior manager David Campbell as president of BP Russia. Campbell is to begin the new role immediately and will report directly to chief executive Bob Dudley. A spokesperson for BP told Upstream that as well as replacing American Richard Scott Sloan as [...]

London-listed Nighthawk Energy posted its first profit as it booked a 12-fold increase in revenue for 2013. The company posted a profit of $20.1 million for the year, compared to a loss of $21.7 million during 2012. The company’s first profit came as revenues rose to $26.2 million, compared to [...]