Drilling Production 2001 P

08/22/2001 -- Vaalco selects FPSO for development of Etame field
Vaalco Gabon (Etame) Inc. selected the floating production, storage, and offloading vessel Petróleo Nautipa for development of the Etame field off Gabon. The 2-year contract is worth $30 million to its owner and operator, a joint venture of Fred. Olsen Energy ASA and Prosafe ASA, both of Norway.
08/21/2001 -- Kværner to upgrade Yetagun platform
Premier Petroleum Myanmar Ltd. awarded the Singapore office of Norwegian company Kværner ASA a contract as part of the upgrade of the Yetagun platform in Myanmar's Gulf of Martaban, said Kværner.
08/21/2001 -- Western Gulf of Mexico lease sale is fourth largest by bids in a decade
Despite the recent drop in offshore drilling activity, US Minerals Management Service officials expect a competitive and profitable sale Wednesday of federal oil and natural gas leases in the western Gulf of Mexico.
08/21/2001 -- Changing market pinches drilling economics
W. Mark Meyer, vice-president of E&P research for Simmons Co. InternationalSome 100-200 rigs now drilling for natural gas in North America will be idled within the next 6-9 months because of lower commodity prices and increased operational costs, reported officials at Simmons & Co. International, Houston. They calculated which areas will be hit hardest by the downturn.
08/20/2001 -- SCORE offshore rig indicator falls from Gulf of Mexico weakness
Offshore drilling contractor Global Marine Inc., Houston, reports its worldwide Summary of Current Offshore Rig Economics for July fell by 0.3% from June. The Gulf of Mexico rating lowered the count, though the international market showed strength.
08/20/2001 -- Lukoil to acquire rest of Perm Oblast JV from SOCO
Lukoil Overseas Holding Ltd. has agreed to acquire the remaining 50% of joint venture Permtex LLC from SOCO International PLC, London, for $50 million.
08/20/2001 -- Cairn Energy tests well off India
Cairn Energy PLC has tested one zone in its well on Prospect P on Block KG-DWN-98/2 off Andhra Pradesh, Eastern India. Previously, Cairn said DWN-P-1 reached 2,585 m TD and found two hydrocarbon-bearing units.
08/20/2001 -- US gas production rise making impact on gas markets-for now
Rising production of natural gas in the US is beginning to contribute to the weakness in gas prices; longer-term trends suggest otherwise
08/17/2001 -- Drilling activity declines in US and Gulf of Mexico
US drilling activity continued to decline, particularly in the Gulf of Mexico, in the wake of sagging market prices for natural gas, industry analysts said Friday. Utilization among mobile offshore rigs in the gulf dipped to 77.8% with 165 units under drilling contracts out of the 212 available, said officials at ODS-Petrodata Group, Houston.
08/17/2001 -- ExxonMobil sets oil well tie-back, depth record in Gulf of Mexico
ExxonMobil Corp. has started production at its $330-million subsea Mica development on Mississippi Canyon Blocks 167 and 211 in the Gulf of Mexico. Mica is in 4,350 ft of water and tied back 29 miles to BP PLC's Pompano platform in 1,290 ft of water.
08/17/2001 -- Sinopec to boost Shengli oil production capacity by 1.5 million tonnes
China Petroleum & Chemical Corp. plans to add 1.5 million tonnes of crude production capacity at its Shengli oil field this year. The new capacity will help raise Shengli�s crude output by 0.68% to 26.58 million tonnes from its earlier target.
08/17/2001 -- Chevron begins production from North Nemba platform off Angola
Chevron Corp. and partners Friday said oil production has begun from the North Nemba platform on Block 0 off Angola. North Nemba is expected to peak at 50,000 b/d of oil in the second quarter of 2002 and will average 40,000 b/d for the year.
08/17/2001 -- Litmus Test
Environmentalists are livid about a US House of Representatives energy bill that would open the coastal plain of Alaska's Arctic National Wildlife Refuge to drilling.
08/16/2001 -- PetroChina raises 2001 production targets for four oil fields
PetroChina Co. has decided to raise its crude production target for this year by 0.7%, or 700,000 tonnes. Providing the extra output will be Changqing, Yumen, and Tarim basin fields in Northwest and Jilin field in the Northeast.
08/16/2001 -- BP submits development plan for Valhall Flanks off Norway
BP PLC has submitted a 4.2 billion kroner ($470 million) plan of development and operation to authorities for the Valhall Flanks development off Norway. The unitized Valhall field is on blocks 2/8 and 2/11.
08/15/2001 -- Statoil expects to resume full Gullfaks production within a week
Statoil ASA said it expects to bring production from Gullfaks field in the North Sea back to normal "soon." Oil production from A and B platforms has been reduced by half to 90,000 b/d because Statoil is testing a new chemical for desulphurization.
08/15/2001 -- Statoil reduces Åsgard production because of gas flowline leak
Statoil ASA, Stavanger, on Wednesday halted production from Åsgard B platform in the Norwegian Sea and reduced output from Åsgard A ship following a leak from a gas flowline between the two.
08/14/2001 -- PetroChina to raise Tarim field crude capacity by 10% in 2002
PetroChina Co. plans to raise the crude production capacity at Tarim field in northwestern China's Xinjiang region by 10% to 6 million tones/year in 2002.
08/14/2001 -- Shell begins production from Brutus field in the Gulf of Mexico
Shell Exploration & Production Co. has begun production from its Brutus tension leg platform on Green Canyon Block 158 in 2,985 ft of water. Production was 25,000 b/d of oil and 35 MMcfd of gas from the first well.
08/14/2001 -- AGA study sees shift in use of US natural gas storage facilities
The American Gas Association reports underground storage is evolving from a peak-shaving tool for utilities to a commercial system that enables companies to manage gas prices and supplies all year. It said gas marketers now control 24% of storage capacity through contracts and gas supply agreements.

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Drilling Production 2001 P