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To: BigBull who wrote (61897)	3/10/2000 9:07:00 AM
From: Roebear	Read Replies (2) \| Respond to of 95453

BigBull (and Rory), Great post this morning! Another thread (MDD) posted news that China congress wants to establish a petroleum reserve. I can't get the link to work, maybe someone else will have better luck: Message 13150490 Best Regards, Roebear

To: BigBull who wrote (61897)	3/10/2000 9:11:00 AM
From: BigBull	Read Replies (1) \| Respond to of 95453

Pemex and Statoil hike capex: I expect to see a lot of this kind of thing going forward. ------------------------------------------------------------ oilnet.no Date: 09.03.2000 Source: IIN Network March 9, 2000 The Glitne field is just the first of several smaller field developments in the Sleipner region. Statoil now plans to invest over NOK 10 billion ($1.2 billion) around the Sleipner field. Last week, Statoil proclaimed its intention to go ahead with Glitne, a small oil field to the north of the Sleipner field. More projects are set to be launched, provided that Statoil and its partners are given large enough gas allocations. Among the fields that are up for development are Dagny, Gudrun, Loke Trias and Volve. Statoil is also considering a new compression platform for the Sleipner field, with investments at around NOK 3-4 billion (USD 350-470 million). In addition, Esso operated Sigyn may be developed and linked to the Sleipner A platform. Norwegian gas production is timed to comply with the demand from Norwayïs gas markets, mainly Germany, France, the Netherlands and Belgium. This means that gas fields are developed when it is necessary, not sooner. The largest of the projects that are currently being planned is the gas/LPG finds Gudrun and 15/3-4. Statoil believes that these finds can be developed together. In this case, a new wellhead platform will be built. A plan for development and operation may be put forth in 2003, and production could start in 2005. Price: NOK 5 billion (USD 590 million). Gas finds Dagny and neighbouring 15/5 B may also be proposed for development in 2003. Statoil proposes that these two fields are developed by a subsea template, linking them to Sleipner A. Investments: NOK 2 billion. energy24X worldoil.com Pemex to expand gas capacity and boost oil production. Mexico?s President Ernesto Zedillo emphasized the country?s need to boost gas output substantially. State firm Pemex says that it will invest over $170 million in the gas sector. Gas demand is estimated to grow 9% a year over the next ten years due to conversion of electricity, industrial and domestic sectors to cleaner fuels to reduce pollution. Zedillo added Pemex?s overall crude capacity is 3.3 million bopd with peak capacity of 3.4 million bopd by next month when nitrogen injection begins in the Cantarell field. With slow demand growth and a 1.52-million bopd limit imposed on exports under its accords with other producers, crude output in recent months was 2.8 million bopd.