-- Neptune Marine to buy, reactivate semi Neptune Marine Oil & Gas Ltd., Nicosia, has agreed to buy the Atlantic Venture semisubmersible drilling rig, former Sedco 708, and plans to reactivate it.
-- US drilling slips 8 units US drilling activity slipped to 1,763 rotary rigs the week ended Feb. 29, 8 less than the previous week but up from 1,752 during the same period last year, said Baker Hughes.
-- Transneft to start ESPO export terminal this month Russia's state-owned pipeline concern OAO Transneft will begin construction for the export terminal of the East Siberia Pacific Ocean oil pipeline this month, according to company officials.
-- Yemen to raise oil production by 2010 Yemen plans to increase its oil production to 500,000 b/d by 2010 from the current 317,000 b/d, according to the country's oil minister, Khaled Bahah.
-- Sakhalin-2 partners seeking swifter financing Sakhalin-2 gas and oil project parterns have reported they are no longer seeking loans from the US Ex-Im Bank or the UK's Export Credits Guarantee Department due to possible delays on loan decisions.
-- US rig count increases by 39 units US drilling climbed to an 11-week high with an increase of 39 rotary rigs to 1,802 working this week, up from 1,757 during the same period in 2007, Baker Hughes Inc. reported.
-- Pakistan firm signs rig deal Petroleum Exploration (Pvt.) Ltd., operator, signed a long-term contract with Weatherford Drilling International for a new National Oilwell Varco 1,500-hp IDEAL drilling rig.