Table of Contents

• The natural gas vision -- 2
  As noted in this space last week, a useful vision for the U.S. natural gas industry is a 30 tcf market by the year 2010.

• Two main play concepts identified in Jordan's basins
  Jordan resides on the northwest flank of the Nubo-Arabian Shield, along the eastern flank of the Dead Sea transform, and on the southern shore of the ancient Tethys Ocean. The transgression-regression of the Tethys resulted in depositing the sediments in different environments. The tectonic evolution of Jordan resulted in the formation of three types of sedimentary basins; these basins have different geological history, which led to the conclusion that two main play concepts exist in the differe

• Indonesia considers legislation that would end Pertamina's 30 year petroleum monopoly
  Bold reform of Indonesia's petroleum sector is being aggressively pursued by the Indonesian government of President B.J. Habibie.
• Indonesian reforms
  The election of a reform government promises sweeping change for the Indonesian oil industry.
• Fundamentals justify crude oil price surge
  The oil market's buoyancy is beyond the wildest dreams of most oil executives, and what's more, market fundamentals are beginning to justify the recent surge.
• BP Amoco begins huge portfolio clear-out
  BP Amoco plc is reviewing its massive portfolio and has set tough performance targets as it integrates two sets of assets following last year's merger.
• Elf's counterattack
  After TotalFina SA made a takeover bid for Elf Aquitaine SA early this month, Elf Chairman and CEO Phillippe Jaffr? kept markets waiting for a response.
• Majors' upstream performance falls in 1998
  A review of the 1998 results of 15 major oil firms reveals a decline in production replacement rates and an increase in finding and development costs vs. 1997.
• Pequiven aims for recovery after glum 1998
  Petroquímica de Venezuela SA (Pequiven) has outlined a plan to reverse its poor performance record in 1998.
• Gazprom plans two gas export lines
  In need of added natural gas export capacity, Gazprom is looking at building two more gas pipelines parallel to its planned 1,213-km Blue Stream gas pipeline, to be laid from Izobilnoye, Russia, across the Black Sea to Ankara.

• Industry Briefs
  International Egyptian Oil Co. (IEOC) acquired interests in two fields-one in the southwest Gulf of Suez and the other in the Nile Delta-held by Marathon Egypt, a subsidiary of Marathon Oil Co., Houston.

• Recovery slow to take hold in drilling market
  Although it is getting easier for exploration and production firms to think of the oil price revival as an enduring recovery, it will be a while before the effects of the upturn trickle down to the contract drilling market.
• Arctic barge rig departs Russia for Caspian drilling program
  A newly upgraded arctic barge rig owned by Parker Drilling Co., Tulsa, is on its way to the Caspian Sea to begin a drilling program for Offshore Kazakhstan International Operating Co. NV (Okioc).
• U.S. crude oil output declines 8% in first half
  The American Petroleum Institute reports that, although oil prices have doubled for U.S. producers since the low of $8/bbl last December, the industry's recovery from economic depression has been slow.
• Shell details Kansas CO₂ flood project
  Shell CO₂ Co. Ltd., Houston, is preparing to establish a pilot CO₂ flood project in a Kansas oil field. The work will be performed jointly by Shell CO₂ Co., MV Partners LP of Wichita, and Kansas University's Energy Research Center.

• Method sizes multiphase-flow gathering lines
  A methodology developed for sizing multiphase-production gathering lines was applied by Texaco Inc. in the Aneth oil field to determine flow line sizes for its CO² flood operation.

• Biofiltration controls odors from asphalt procession plant
  Biofiltration is being used by Idaho Asphalt Supply Inc.'s Blackfoot, Ida., asphalt plant to control odors.

• Method yields download force to arrest upheaval buckling in offshore lines
  A simple method for preliminary design of offshore pipelines against upheaval buckling has been developed.

OGJ Newsletter

• OGJ News Letter
  The antidumping petition targeting the four biggest exporters of oil to the U.S. looks to be in jeopardy and may be dismissed.
• Area Drilling
  Shell Prospecting Africa BV will start negotiations with Onarep to obtain exploration permits on the Cap Ghir Haute Mer and Anza Haute Mer areas off Morocco. Shell held reconnaissance permits on the areas that covered 8,445 sq km and 5,000 sq km, respectively.

Journally Speaking

• Face to face
  Company mergers steal the headlines, and consolidation is rapidly reducing the number of companies in the industry. Cost-cutting has reduced the number of employees and has hit operating companies, service and supply companies, trade associations, and government agencies.