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To: BigBull who wrote (61143)	3/1/2000 9:27:00 AM
From: SargeK	Read Replies (1) \| Respond to of 95453

O/T For the record, it is FPSO NOT FSPO FPSO (Floating Production Storage & Offloading) tankers..FWIW............. SargeK

To: BigBull who wrote (61143)	3/1/2000 9:30:00 AM
From: BigBull	Respond to of 95453

Anyone care to comment on the very large volume spikes seen in GLBL of late? I haven't been keeping up with this one recently. So Whazzzzup?

To: BigBull who wrote (61143)	3/1/2000 9:40:00 AM
From: Big Dog	Read Replies (1) \| Respond to of 95453

Hey Bull...Blondes...now your talking! FPSO's are great for the US Gulf, they will work 'as-is', as they are working around the world now. The problem is that the MMS has not approved them for US use. There is now underway an EIS (Environmental Impact Statement) that will cover the use of these production tools for the US Gulf. If my memory is correct, the EIS should be completed sometime later this year. It has been a very long and tedious process. Even after the EIS is completed there will be more red tape, as typical with any govt matter. When can we see the first FPSO in the Gulf? Maybe a year or two...I don't know. There is nothing wrong with the technology. I think the man concern is about spills and response ability to spills -- even though this hasn't been a problem anywhere else in the world. PGO is a great pick for FPSO biz. FGH may get some construction business when approval is closer, but these vessels can be built anywhere and the eastern boys can outbid anyone else in the world - and FGH is not exactly a 'warm and fuzzy' place to do business these days. Bottom line - there WILL be FPSO's in the US Gulf within a couple of years. Maybe a bunch of 'em. big