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

To: Teddy who wrote (14992)	3/17/1998 6:34:00 AM
From: Teddy	Read Replies (1) \| Respond to of 95453

News snips from Offshore Data. Looks like there is still plenty of demand: U.S. GULF: Jackup MARINE 303 began a turnkey well with Basin Exploration in East Cameron Block 34. The rig, which had been briefly stacked, is under contract with ADTI to late May 1998. CLARIFICATION: The March 12 edition of Today's News incorrectly reported the upgrade cost for semi NOBLE HOMER FERRINGTON. The rig is undergoing a $140 million upgrade at TDI-Halter Shipyard in Sabine Pass, Texas. As previously reported, Noble expects to sign a five-year contract for the rig soon. Teddy's note: Soon. Soon. Soon. Everyday its: Soon.) HOUSTON: Baker Hughes and OGCI Management Services set up a new venture, Petroleum Consulting Resources International, to reduce the shortage of specialist engineering and operations personnel in the international oil and gas industry. The joint venture will develop and provide drilling and production engineers, wellsite supervisors, project team leaders and coordinators, project managers and to a limited extent, reservoir engineers and geologists. Petroleum Consulting Resources International was formed to address the personnel shortage in the worldwide oil and gas sector by developing people with the experience needed to meet the industry's growing demands. AUSTRALIA: Novus Petroleum is looking for a jackup to drill one well offshore Australia in the second quarter of 1998. The operator is attempting to cover the requirement via a farmout. Teddy's note: sounds like there is not enough rigs UK: Monument and BP signed an agreement for joint exploration in the area around the Andrew and Cyrus fields. Both companies have identified a number of exploration prospects, including potential satellite developments that can be tied-back through to the BP-operated Andrew and Cyrus installations. The agreement calls for Monument to farm-in to three blocks (16/23, 16/28 and 22/3a) by funding BP's share of an up to four-well exploration program. Monument will earn a 50 percent stake in each block. Drilling will begin later this year. UK: BP concluded day rate negotiations with Noble regarding the final six-month period on its contract with semi TON VAN LANGEVELD. Terms of the extension were not revealed. The rig is firm with BP until mid-March 1999. QATAR: Nabors Drilling jackup OCEAN MASTER VII is schedule to begin a four and a half month contract off Qatar in mid-May 1998. The rig was released by Arco Qatar in late December 1997.