Drilling Production 2000 P

06/12/2000 -- Finance/Companies news briefs, June 12
Union Pacific Resources . . . Madison Energy Advisors. . .Transocean Sedco Forex � BP Amoco � Indo-Pacific Energy � AMG Oil � Noble Affiliates � Fred. Olsen � R&B Falcon � Navis � BP Amoco � Petrobras
06/09/2000 -- Schlumberger buys into processing specialist
Schlumberger Oilfield Services, a business segment of Schlumberger Ltd., agreed to buy an undisclosed minority share in Framo Engineering AS, Bergen, Norway, which specializes in subsea hydrocarbon processing. The companies said the arrangement aims to integrate downhole and subsea solutions.
06/07/2000 -- Drilling/Production news briefs, June 7
Samedan Oil Co. ... Energy Development Corp. � Brown & Root Energy Services � Shell Philippines Exploration � Texaco ... Chevron ... Horizon Offshore ... Tidewater � Sano Steamship
06/06/2000 -- R&B Falcon reactivates nine offshore units
Responding to the strength in the Gulf of Mexico's natural gas drilling market, R&B Falcon Corp. said six of its shallow-water jack ups and three drill barges will be reactivated. The vessels are scheduled to begin working in the second and third quarter of this year to allow time for crewing and final preparation for service.
06/06/2000 -- Friede Goldman Halter subsidiary, Petrodrill reach agreement
Friede Goldman Halter Inc. , Gulfport, Miss., said its Friede Goldman Offshore Texas subsidiary has reached an agreement with Petrodrill IV Ltd. and Petrodrill V Ltd. regarding contract disputes over FGOT's construction of two Amethyst-class deepwater semisubmersible drilling rigs for Petrodrill.
06/06/2000 -- Canada gives Terra Nova a break on FPSO import fees
Petro-Canada Ltd., Calgary, has been granted a $98.7 million (Can.) break on import fees owed on an offshore production vessel for the Terra Nova oil development off Newfoundland. The break represents 25% duties on the cost of building the hull and lower turret of the floating production, storage, and offloading vessel.
06/06/2000 -- Woodside to assess Carnarvon basin discoveries
Australia's Woodside Petroleum Ltd. has committed $54.6 million (Aus.) for development studies and appraisal drilling on the Vincent and Enfield oil discoveries in the offshore Carnarvon basin. The move may be part of a push to receive a higher takeover offer from Shell Australia Ltd.
06/06/2000 -- Surgutneftegaz seeks funding for Kirishi hydrocracker
Vladimir Bogdanov, president of Russia's Surgutneftegaz, held a series of meetings in London recently with potential investors to discuss a project to build a hydrocracker at its Kirishinefteorgsintez refinery near St. Petersburg. Surgutneftegaz is seeking $600-800 million in loans for the project.
06/05/2000 -- Kerr-McGee awards Nansen spar contract
Even though the joint venture was dissolved earlier this year, Spars International Inc., a 50-50 JV of Aker Maritime Inc. and J. Ray McDermott, has been awarded a spar floating production platform contract for Nansen field, operated by Kerr-McGee Oil & Gas Corp., in the Gulf of Mexico. Spars International had bid for the contract before its dissolution (OGJ, Feb. 14, 2000, p. 32).
06/02/2000 -- Processing news briefs, June 2
Syncrude Canada ... Shell Canada ... AMEC PLC ... AGRA Birwelco ... Fluor Daniel Canada ... Parsons Canada
06/02/2000 -- MMS: US depends on deepwater Gulf of Mexico for energy future
Deepwater development in the Gulf of Mexico is the engine driving new US energy production, says the US Minerals Management Service in a new report titled, Deepwater Gulf of Mexico: America�s Emerging Frontier. The MMS report heralds the arrival of "the new frontier for resource management" and chronicles the unfolding of the deepwater Gulf of Mexico as a major world petroleum province.
06/02/2000 -- Finger pointing
Just in case higher gasoline prices become an election issue this year, politicians are positioning themselves to blame the other party.
06/01/2000 -- Study: US government could limit industrial gas use
Natural gas storage injections and storage levels in the US are both down from peak injection season 1 year ago, according to the American Gas Association. As a result, natural gas prices will possibly push higher this year, raising the fear the US government could limit industrial gas use this winter, says Salomon Smith Barney.
06/01/2000 -- Schlumberger, Baker Hughes to pool seismic assets
Schlumberger Ltd. on Wednesday signed a memorandum of understanding with Baker Hughes Inc. to form a joint venture of the two companies' seismic units, to be called Western GECO.
06/01/2000 -- New plant uses thermal process to recycle petrochemical waste
A South Korean venture firm says it has developed a technology to produce high-quality oil products from waste plastics, vinyl, and other petrochemical products. The technology involves thermal cracking of wastes at low temperature and pressure in the absence of oxygen, as compared with the traditional catalytic methods.
06/01/2000 -- Ecuadorian pipeline expansion back on track
Expansion of the Trans-Ecuadorian trunk pipeline (SOTE) appears to be back on track. Completed of the 50,000 b/d expansion is now expected by the end of June, vs. an original start-up date of Mar. 31.
05/31/2000 -- Parker rig to drill in giant Tengiz field
Parker Drilling Co., Tulsa, has completed the modification of its Rig 249, which will begin drilling in giant Tengiz field in western Kazakhstan for Tengizchevroil (TCO) in August. The rig is under a long-term contract to TCO, a limited liability partnership that includes Chevron Corp., ExxonMobil Corp., KazakhOil and Lukoil.
05/31/2000 -- President Clinton orders more ocean protections
With oil futures trading at about $30/bbl in the US Tuesday and natural gas futures topping $4.50/Mcf, President Bill Clinton issued an executive order that promises to further restrict drilling in US waters. The order expands the protection of coastal waters, estuaries, coastal reefs, and shorelines and directs the Environmental Protection Agency to toughen water quality standards to reduce coastal pollution.
05/30/2000 -- Vanguard spuds Tawoos-1 well in Egypt
Vanguard Oil Corp., Calgary, on Monday said it spudded the Tawoos-1 well on the western coast of the Gulf of Suez on the West Esh El Mallaha concession. The surface conductor has been set, and the well is drilling ahead. The total depth of 8,200 ft should be reached within 3 weeks of spud.
05/30/2000 -- Iran awards Darquain oil project to ENI
National Iranian Oil Co. (NIOC) has awarded Italy's ENI SPA a buy-back contract to develop the Darquain oil field. Further negotiations are taking place to tie up the loose ends, according to the Middle East Economic Survey (MEES). The estimated $500-600 million project will be the second awarded to the Italian company, which is already in partnership with TotalFinaElf of France for developing the Doroud offshore field.

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Drilling Production 2000 P