Drilling Production 2001 P

07/06/2001 -- Another analyst reduces natural gas price forecast
With US supplies of natural gas increasing in the face of "lost demand," Salomon Smith Barney Inc. reduced its forecast of composite spot prices to $3.25/MMBtu through 2002 from a previous range of $3.75-$4.50/MMBtu.
07/06/2001 -- Petromar completes eight flowline bundles for Girassol field off Angola
Petromar, a subsidiary of Bouygues Offshore SA and Angola's Sonangol, has completed the first phase of a project to provide bundles for the Girassol field umbilicals and flowlines project. TotalFinaElf SA is developing Girassol off Angola. It has installed two 1,300 m long bundle riser towers, and a third is planned.
07/06/2001 -- Statoil files development plan for Mikkel field in Norwegian Sea
Statoil Friday gave the Norwegian Ministry of Petroleum a development plan for Mikkel gas and condensate field that calls for production to begin in the fall of 2003 and continue until 2017. Statoil said costs are estimated at 2.4 billion kroner ($260 million). Mikkel field straddles Blocks 6407/6 and 6407/7 in the Norwegian Sea.
07/04/2001 -- Texaco completes North Buzachi appraisal drilling off Kazakhstan
Operator Texaco Inc. has completed drilling as part of the second phase of its appraisal program on the North Buzachi onshore field in Kazakhstan's Mangistau province. The program at North Buzachi field involved both 2D and 3D seismic data acquisition and the drilling of 30 new wells on top of the four drilled under phase one appraisal.
07/03/2001 -- OPEC to hold oil production steady, pending resumed Iraqi exports
As expected, the Organization of Petroleum Exporting Countries decided Tuesday to keep oil production at the current level of 24.2 million b/d. Delegates of the 10 nations, plus Iraq, agreed to maintain production during an informal meeting in Vienna that preceded their formal meeting at OPEC headquarters.
07/02/2001 -- Market watch: Iraq's inaction raises prices
Futures prices for oil and refined products improved Friday as international traders worried about Iraq's refusal to resume its oil exports. The August contract for benchmark US light, sweet crudes gained 69¢ to $26.25/bbl on the New York Mercantile Exchange.
07/02/2001 -- ENI, Naftiran to develop Iran field in defiance of US sanctions
ENI SPA and Naftiran Intertrade Co. signed a $1 billion buyback contract with National Iranian Oil Co. to develop onshore field Darquain in the Iranian province of Kuzestan. This is the first test of US President George W. Bush's resolve to apply the Iran-Libya Sanctions Act.
06/29/2001 -- Enbridge, Lakehead to proceed with Terrace pipeline expansion
Enbridge Inc., Calgary, and Lakehead Pipe Line Partners LP, Duluth, Minn., will proceed with the proposed $450 million (Can.) third phase of the Terrace oil pipeline expansion project.
06/29/2001 -- US drilling activity dips slightly on and off shore
US drilling activity slipped slightly this week, and utilization of mobile offshore rigs in the Gulf of Mexico sagged as two more of those units came off contracts, industry officials reported Friday.
06/29/2001 -- Syncrude partners approve third, $4 billion (Can.) expansion
Partners in Syncrude Canada Ltd. joint venture have approved the $4 billion (Can.) third stage of the Syncrude 21 expansion plan. It will be the largest of four expansion stages and include a major expansion of Syncrude's Mildred Lake upgrader and a second production train at the Aurora mine.
06/29/2001 -- Alberta projects 2,700 successful oil wells during 2001
The Alberta Energy and Utilities Board has reported that increased drilling activity helped slow the province's production decline from 11% in 1999 to 2% in 2000. It predicted operators would drill 2,700 successful oil wells this year and next, leveling to about 2,500/year until 2010.
06/29/2001 -- NGL business improving slightly after being hammered by high gas prices
The US NGL business is improving after getting hammered by high natural gas prices; however, a rebound in natural gas prices in the second half could change all that.
06/28/2001 -- Republicans seek to turn up political heat over energy policy
Energy policy dominated the agenda Thursday at the White House and on Capitol Hill on the eve of a 1-week congressional recess. GOP lawmakers maintained that Democrats have largely ignored legislative initiatives outlined in the White House's energy blueprint. Democrats charge that Republicans are only interested in an industry agenda.
06/28/2001 -- Blake brought onstream as Ross resumes production
The BG International PLC-operated Blake field in the UK North Sea has been brought to first oil and production resumed from the neighboring Ross development a month ahead of schedule, field partner Talisman Energy UK Ltd. reported Thursday. The initial combined flowrate from the two fields, located on Block 13/24 in the Outer Moray Firth, will be 65,000 b/d, ramping up to peak at around 85,000 b/d.
06/28/2001 -- Kværner wins Sleipner West upgrade contract off Norway
Statoil AS has awarded Kværner Oil & Gas AS a 350-million kroner contract to upgrade its Sleipner West installations, after the Norwegian North Sea development's licensees approved a 1-billion kroner project to boost compression capacity in order to combat declining reservoir pressure.
06/28/2001 -- First riser tower goes in at Girassol off Angola
The first of three riser towers at TotalFinaElf SA's giant Girassol development off West Africa was installed in a "milestone" operation completed Monday by Alto Mar Girassol -- the Bouygues Offshore SA and Stolt Offshore SA joint venture contracted to handled the field's subsea flowlines, risers, and umbilicals.
06/28/2001 -- Phillips removes largest nonconcrete platform in North Sea from Maureen
The 110,000-tonne steel gravity-based Maureen Alpha platform will arrive by tow Friday in Norway after it was refloated in the first step of Phillips Petroleum Co. UK Ltd.'s plans to decommission the 20-year old North Sea development. Refloating the largest and heaviest non-concrete structure in the North Sea took 60 hr.
06/27/2001 -- Edison, Texaco team up on California power plant
California's first new large power plant in 13 years ramped up Wednesday, 1 month ahead of schedule and in time to help stave off this summer's anticipated rotating blackouts. The 320 Mw gas-fired Sunrise power plant near Bakersfield is 50% owned and will be operated by Edison Mission Energy. Texaco Power & Gasification, a unit of Texaco Inc., owns the remaining 50%.
06/27/2001 -- Pride Carlos Walter begins Petrobras contract
Pride International Inc.'s newly built semisubmersible rig, the Pride Carlos Walter, began working off Brazil under a 5-year contract for Petroleo Brasileiro SA (Petrobras). Its sister unit, the Pride Brazil, is completing acceptance testing in Brazil and is expected within a few weeks to begin working for Petrobras under a similar 5-year contract.
06/27/2001 -- DOE seeks projects to identify best oil field operating practices
The US Department of Energy is seeking more projects in its program to identify best operating practices for US oil producers. PUMP II (Preferred Upstream Management Practices) seeks engineering and geologic practices that can be developed and deployed rapidly to oil companies, especially small ones.

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Drilling Production 2001 P