Drilling Production 2002 P

02/11/2002 -- UK group to fund £8 million in research for North Sea technology
The UK group Industry Technology Facilitator has this year secured £8 million toward the development of new oil and gas technologies to be applied in the North Sea. The ITF promotes the development of technology through joint industry projects.
02/11/2002 -- Anadarko plans Canadian capital spending this year of $270 million
Anadarko Petroleum Corp., Houston, plans 2002 Canadian capital spending of $270 million (US). Nearly a third of the budget is earmarked for exploration in Northeast British Columbia, Central and Northern Alberta (the Deep basin), and the southern Northwest Territories.
02/11/2002 -- Market watch: Oil futures prices rise with optimistic view of OPEC action
Energy futures prices rose on international markets Friday as traders chose to view quota agreements among the Organization of Petroleum Exporting Countries and outside producers as more filled than failed.
02/11/2002 -- Halliburton to provide oil field services to Russia's Sibneft
Halliburton International Inc. and OAO Sibneft, Russia's sixth largest oil company, have signed an agreement described as worth "tens of millions of dollars" for Halliburton to provide a full range of oil field services to Sibneft's upstream division.
02/08/2002 -- Drop in land gas operations dampens US drilling activity
US upstream activity continued to deteriorate with a drop in land drilling for natural gas this week, said officials at Baker Hughes Inc., Houston.
02/08/2002 -- TotalFinaElf will end gas flaring in Nigeria by yearend 2005
TotalFinaElf SA will end gas flaring at its oil production center in Nigeria by the end of the year in line with a gas monetization policy, said the Organization of Petroleum Exporting Countries' news agency Friday.
02/07/2002 -- Statoil awards $110 million letter of intent to Kværner for Kristin systems
Statoil ASA has awarded a letter of intent worth 1 billion kroner ($110 million) to Kværner ASA to build subsea production systems for the 17 billion kroner Kristin field in the Norwegian Sea.
02/07/2002 -- FMC Technologies to provide wellhead trees for Devils Tower, Medusa
Mentor Subsea, an affiliate of J. Ray McDermott SA, has selected FMC Technologies Inc. to provide wellhead trees and associated services for Dominion Exploration & Production Inc.'s Devils Tower spar and Murphy Oil Corp.'s Medusa spar, both in the Gulf of Mexico.
02/07/2002 -- Helped by Gulf Canada acquisition, Conoco replaces 432% of production
Conoco Inc. and its equity affiliates added more than 1.2 billion boe, including syncrude, to worldwide reserves in 2001, replacing 432% of production.
02/07/2002 -- Warm winter to date masking another looming gas supply crunch
A warm winter to date has masked a looming natural gas supply crunch; a sharp price rebound is coming in the second or third quarter.
02/06/2002 -- Drilling contractors expect rebound in US activity but don't know when
US drilling activity is bound to pick up, but no one is quite sure when, said a panel of industry executives Wednesday at the annual health, safety, environment, and training conference sponsored by the International Association of Drilling Contractors in Houston.
02/06/2002 -- Transocean says net doubles to $252.6 million, notes rig market weakness
Transocean Sedco Forex Inc., a large offshore drilling company based in Houston, declared net income for the fourth quarter of 2001 of $56 million on revenue of $747.6 million. For the year, Transocean declared net income of $252.6 million on revenue of $2.8 billion.
02/06/2002 -- Thailand's PTTEP plans to spend $1.93 billion through 2006
PTT Exploration & Production PCL (PTTEP) plans to spend 85.27 billion baht ($1.93 billion) in capital and operating expenditures in 2002-06.
02/06/2002 -- ExxonMobil brings Larut field on stream off Malaysia
ExxonMobil Corp. has brought on stream Larut field, on Block PM5 about 125 miles off Terengganu, Malaysia. At peak, Larut is expected to produce more than 30,000 b/d of oil and 35 MMcfd. Together with ExxonMobil's nearby six satellite fields development project and the Angsi facilities, peak output of 140,000 b/d and 535 MMcfd is expected.
02/06/2002 -- BG says tests confirm 400 million bbl at Buzzard field in UK North Sea
BG Group PLC said further testing of the Buzzard 20/6-4 appraisal well in the UK North Sea confirms reserves of more than 400 million bbl.
02/05/2002 -- Gulf of Mexico oil and gas facilities are open to attack, ex-SEAL warns
Oil and gas facilities -- especially offshore operations in the Gulf of Mexico -- are vulnerable potential targets for anyone who wants to cripple the US economy or military, said an ex-Navy SEAL who was trained in such attacks.
02/05/2002 -- MMS distributed record $1.1 billion to states from mineral leases in 2001
The US Department of the Interior's Minerals Management Service Tuesday said it distributed a record $1.1 billion in federal mineral revenues to states last year. Wyoming received the most, a record $429.6 million, up from $333 million the year before.
02/05/2002 -- El Paso sets work for deepwater production hub in Gulf of Mexico
El Paso Energy Partners LP has given MODEC International LLC a letter of intent for the engineering, procurement, and construction of the hull, mooring, and production riser system for the world's deepest tension-leg platform.
02/04/2002 -- White House budget plan would overhaul federal oil and gas research
The Bush administration's fiscal 2003 budget proposal would require the Department of Energy to overhaul how it funds oil and gas research. The White House again would slash oil and gas research spending by 50%, a proposal that Congress overrode last year.
02/04/2002 -- Kuwaiti oil field accident spurs a jump in oil futures prices
Oil futures prices surged on international markets Friday amid concerns that an explosion at a 280,000 b/d crude gathering center in a Kuwait oil field could disrupt that country's oil exports by 450,000 b/d.

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Drilling Production 2002 P