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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: Douglas V. Fant who wrote (46425)	6/15/1999 12:18:00 AM
From: pz	Respond to of 95453

slb.com

To: Douglas V. Fant who wrote (46425)	6/15/1999 12:22:00 AM
From: pz	Respond to of 95453

oilonline.com

To: Douglas V. Fant who wrote (46425)	6/15/1999 12:24:00 AM
From: pz	Respond to of 95453

Statoil awards new contract for West Navion drillship June 14, 1999 Statoil canceled a five-year contract to charter the new deepwater drillship West Navion from Smedvig, and instead will take the rig for a one-year drilling assignment. The dayrate offered is $185,000, which is generally in accordance with terms of the original contract that was terminated by Statoil. In addition, Statoil agreed to pay Smedvig a $10 million mobilization fee for the rig. Smedvig has accepted the offer, subject to approval by the company's board of directors and the company's partner, Navion. Smedvig plans to complete the West Navion in accordance with the current schedule for delivery in the fourth quarter of 1999. Statoil said in a statement that it canceled the five-year contract because of delayed delivery of the rig. Smedvig refuted Statoil's right to cancel the drilling contract on the basis that the delay was due to a large extent matters that were attributable to Statoil. The West Navion design is based on Statoil's own concept for multipurpose shuttle tankers. The drillship's hull was built in South Korea.

To: Douglas V. Fant who wrote (46425)	6/15/1999 12:32:00 AM
From: pz	Read Replies (1) \| Respond to of 95453

slb.com

To: Douglas V. Fant who wrote (46425)	6/15/1999 8:51:00 AM
From: shust	Read Replies (1) \| Respond to of 95453

Doug- SLB's Sedco Forest unit operates in Venezuela. The SLB guys I hang out with always mention the name Sedco Forest. shust

To: Douglas V. Fant who wrote (46425)	6/15/1999 9:30:00 AM
From: Big Dog	Read Replies (2) \| Respond to of 95453

Doug, Sedco Forex is probably the number three or four offshore drilling contractor in the world, based on number of rigs. I fully expect they will be "adding to the fleet". If you recall, Sedco was the driller based in Dallas that was run by former Texas Gov. Bill Clements, until SLB came along. SLB then added driller Forex Neptune which was a purely international company with great inroads in Africa and the Middle East and other places that Americans can't drill. big atoffshore.com