Drilling Production 2002 P

01/21/2002 -- Unocal installs second platform at Yakin field off East Kalimantan
Indonesian construction company H&H Utama installed an offshore production platform at Unocal Corp.'s Yakin oil and gas field, 8 km off Balikpapan in East Kalimantan, said consulting company Sinclair Knight Merz.
01/21/2002 -- PanCanadian Energy sets $1.7 billion (Can.) budget for 2002
PanCanadian Energy Corp., Calgary, approved the second biggest budget in its history, $1.7 billion (Can.), to fund production growth from Canada's Western basin and reserve growth in offshore and international projects in 2002.
01/21/2002 -- Pakistan grants Punjab province exploration license to Scimitar
Pakistan Friday granted a petroleum exploration license for Safed Koh block to a joint venture of Scimitar Hydrocarbons Pakistan Ltd. (80%) and MESA Petroleum (Pvt.) Ltd. (20%).
01/21/2002 -- GlobalSantaFe says SCORE falls on further Gulf of Mexico market softening
Offshore drilling contractor GlobalSantaFe Corp., Houston, reports its worldwide Summary of Current Offshore Rig Economics (SCORE) for December fell 1.7% from November. The worldwide SCORE for December was 45.3, up 21.7% from a year ago but down 25.2% from 5 years ago.
01/18/2002 -- Baker Hughes says Texas leads small increase in US drilling activity
US drilling activity increased slightly with 869 rotary rigs working this week, said officials at Baker Hughes Inc., Houston. That's 13 more than last week, but still down sharply from the 1,128 that were drilling during the same period a year ago.
01/18/2002 -- Market watch: Futures prices drop on lower demand, increased inventories
US oil futures prices dropped below $18/bbl Thursday for the first time in 2 years as traders continued to worry about lower demand and increased inventories. The market will remain weak until it sees some noticeable effect of promised production cuts of nearly 2 million b/d, said analysts.
01/18/2002 -- Did OPEC overreach-or was a price abyss narrowly avoided?
Did OPEC overreach in its accord with non-OPEC to cut production? Or was it merely avoiding a price collapse this year?
01/17/2002 -- Nigeria won't privatize state-owned exploration and production company
Nigerian Petroleum Development Co. has been removed from the list of companies slated for privatization, said the group managing director of NPDC parent Nigerian National Petroleum Corp.
01/17/2002 -- Norwegian natural gas sales set record as winter weather bites Europe
Due to cold weather, Statoil ASA supplied 137 million cu m of gas to Europe on Jan. 13, breaking its record of 117 million cu m set last winter.
01/16/2002 -- Capco to acquire privately held Energy Reserves Group LLC
Capco Energy Inc., Orange, Calif., has agreed to acquire privately held Energy Reserves Group LLC, Houston, for $10.5 million. Energy Reserves is an oil and gas production and development company producing 830 boe/d, mostly in the Texas Gulf Coast area and Wyoming.
01/16/2002 -- Statoil to study enhanced recovery for three Iranian oil fields
Statoil ASA has signed an agreement with the National Iranian Oil Co. for enhanced recovery studies at three Iranian oil fields.
01/16/2002 -- Crude begins arriving on market from Girassol field off Angola
London traders have sold Statoil ASA's first 1-million-bbl crude shipment from the $3.5 billion Girassol field project off Angola. Operator TotalFinaElf will inaugurate the field, which began production Dec. 4, with ceremonies in early February.
01/15/2002 -- Texas commission studies problems of plugging abandoned wells
The Texas Oil Field Clean Up Fund Advisory Commission will meet for the first time Wednesday in Austin to examine how the Texas Railroad Commission can keep plugging 1,400 abandoned wells and cleaning 300 oil field sites annually despite a projected $4 million shortfall in funding.
01/15/2002 -- ENI SPA confirms it has Enterprise Oil PLC in its sights
Italy's ENI SPA, Europe's fourth-largest integrated oil company, has confirmed that its has substantial cash reserves to finance a takeover program that could include the UK independent exploration and production company Enterprise Oil PLC.
01/15/2002 -- Anadarko starts up Hassi Berkine oil field in Algerian Sahara Desert
Anadarko Petroleum Corp. said Tuesday it has begun oil production from Hassi Berkine field on Blocks 404 and 403 in Algeria's Sahara Desert.
01/14/2002 -- Talisman to spend $2 billion (Can.) on E&D in 2002
Talisman Energy Inc., Calgary, plans to spend $2 billion (Can.) on exploration and development in 2002, up 6% from last year. More than 70% of the budget will be spent on development projects. Two-thirds will be spent on Canada and the North Sea.
01/14/2002 -- Peruvian tax relief law on hold for clarification until Feb. 8
A Peruvian law that would forgive the 18% sales tax on goods and services for unsuccessful oil exploration campaigns is on hold until Feb. 8 while the government clarifies the text.
01/14/2002 -- Petrobras produces record 1.5 million b/d of crude in December
Petroleo Brasiliero SA produced a record 1,507,532 b/d of oil in December, up 6% from November. Most was produced in Brazil, though 38,414 b/d b/d came from overseas activity through international subsidiary Braspetro.
01/14/2002 -- EIA says US majors' capital expenditures nearly doubled in 2000
Profits of major US energy companies set a record as worldwide net income soared to $53.2 billion in 2000, up 133% from net income in 1999.
01/11/2002 -- Statoil gives Aker Stord work for Kristin platform in Norwegian Sea
Norwegian company Statoil ASA has awarded Aker Maritime's Aker Stord yard in Norway a 5 billion kroner ($560 million) main contract for Kristin field in the Norwegian Sea.

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Drilling Production 2002 P