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

To: BigBull who wrote (63638)	4/2/2000 9:01:00 AM
From: BigBull	Read Replies (1) \| Respond to of 95453

Norway & Canada: gasandoil.com Exploration off Norway expected to rise in 2000 28-01-00 Exploration for oil and gas off Norway is expected to rise in 2000, including wells in the Arctic Barents Sea for the first time since 1994, the Norwegian Petroleum Directorate (NPD) said. There will be 30-35 exploration wells during 2000, up from 28 in 1999, the NPD said. "In total there were five new finds on the Norwegian shelf in 1999, three in the Norwegian Sea and two in the North Sea," it said. "In total, 28 exploration wells were completed." "Exploration activity is expected to pick up in 2000 and is expected to be about 30-35 exploration wells. In the Barents Sea a drilling campaign is planned for the summer, for the first time since 1994." Source: Reuters Canada sees drilling activity booming 27-01-00 Western Canada is racing to its second-busiest exploration year and only a shortage of qualified rig hands may stand in the way of record activity, industry spokesmen said. The Petroleum Services Association of Canada is now projecting 14,545 wells this year, up 1,000 wells from its October forecast and 37 % ahead of 1999, for the largest year-over-year increase in recent times. PSAC president Roger Soucy said only a "superhuman effort" would eclipse the all-time high of 16,484 wells in 1997. "Our problem is a labour shortage... experienced people aren't around" in a sector now employing 24,000 people, after adding 2,000 in the last year, he said. Among the major drilling companies, Ensign Resource Services Group has opened a toll free line for prospective workers and Precision Drilling, with 211 rigs, has opened a training centre. But even the most optimistic drilling predictions may be low, said the Canadian Association of Oilwell Drilling Contractors, which reported drillers are already running about 13 % more rigs than expected with 556 rigs currently at work. PSAC said 70 % of this year's wells will target natural gas, with almost 10,000 wells in Alberta, 3,300 in Saskatchewan and 1,300 in British Columbia. Source: IINX via Iinoil