BUSINESS BRIEFS

Petrobras awarded FMC Corporation an order worth $13 million for 13 deepwater subsea systems for the Marlim and Marlim Sul fields in Brazil.

Apr 1st, 2001
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Contracts


The Cameron Division of Cooper Cameron Corporation contracted with H&P Inter-national Drilling Company to repair and maintain all Cameron equipment owned by H&P.
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Petrobras awarded FMC Corporation an order worth $13 million for 13 deepwater subsea systems for the Marlim and Marlim Sul fields in Brazil.

Seven Seas Petroleum, Inc. was approved by the Colombian Ministry of Trade for the Plan Vallejoto to develop the Guaduas Oil Field.

Shell Global Solutions, USA and RD Instruments Inc, USA are using systems to obtain profiles throughout the water column in water depths to 2,000 meters.

Dresser-Rand will supply power generation and compression equipment for Statoil's Kvitebj rn platform in the North Sea under a 241million NOK contract.

C'Treat Offshore Inc. was awarded a contract to supply the Watermaker facilities for BP's Horn Mountain Spar development in the Gulf of Mexico.

BJ Services Company received a contract from TotalFinaElf Exploration UK PLC to provide engineering services on the Alwyn North and Dunbar Fields in the North Sea.

Pride purchased the remaining 73.6% interest in two deepwater semisubmersible Amethyst rigs, the Pride Carlos Walter and Pride Brazil.

Process, design, and manufacturing company, Merpro Ltd, completed a six-figure contract with Shell UK Exploration and Production.

Paragon Engineering Services, Inc. of Houston and Stolt Offshore signed a letter of intent to form a new company, Paragon Engineering Services International, to pursue deepwater projects worldwide.

NetworkOil will be the exclusive provider of oilfield surplus equipment acquisition and sales to PetroCosm in the US and Canada.

GeoQuest finalized a business partnership with Portfolio Decisions, Inc.

Mergers & Acquisition

Transocean Sedco Forex Inc. and R&B Falcon Corporation merged in an exchange totalling 317 million shares.

Frank's Casing Crew & Rental Tools, Inc. acquired Okie-Yoke, Inc. assets.

The Board of Roxar ASA has approved the acquisition of 100% of the shares in Fluenta AS, a company wholly owned by Data Invest AS in Bergen, Norway.

The transfer of Aker Maritime's Deepwater Company business area to Coflexip Stena Offshore is confirmed at a value of US $625 million.

UTI Energy and Patterson Energy will exchange every share equally in their merger.

Veritas DGC Inc. acquired Reservoir Characterization Research and Consulting Inc., a technology and services company for industry.

El Paso Energy Corporation completed the $24 billion merger with Coastal Corporation.

Petroleum Geo-Services ASA closed an offering of 5,388,743 shares for Spinaker Exploration Company at $29.25 per share.

Company News


Delmar Systems. Inc. expanded its shore base capability to include the largest lifting-capacity crane at Port Fourchon, Louisiana.
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Mustang Engineering, Inc. opened a new pipeline and field services office in Birmingham, Alabama.

Benton Oil and Gas Company launched a comprehensive technical review to optimize the values of its developed and undeveloped reserves in the South Monagas Unit in Venezuela.

Radarsat International is officially the US Geological Survey business partner.

Houghton Offshore opened a new global sales and services headquarters on 10375 Richmond Avenue in Houston, Texas.

EDG, Inc. was selected to provide startup planning assistance on Chevron's Typhoon Development Project in the Gulf of Mexico's Green Canyon Area.

Work is being done on a new center for Thales Survey in Aberdeen.

Maridan's first M600 autonomous underwater vehicle was officially named Risoe Quay in Roskilde Fjord.

Hvide Marine Incorporated reached an agreement to amend an earlier agreement to repay a bank debt term loan of $40 million.

Netzsch Group founded a new division called Netzsch Oilfield Products GmbH, headquartered in Selb, Upper Franconia.

Paragon Engineering Services, Inc. will assist in the development of a Gulf of Mexico shallow-water platform that will accept deepwater production from remote subsea wells in up to 7,200 ft water depth.

OneOffshore developed a website to connect drilling contractors with access to offshore drilling rig market knowledge and tools.

People

Dr. Anthony Albert Denton, ex-Chairman of Noble, Denton and Associates died March 4 of this year.

R&M Energy Systems appointed Richard Schmidt to Vice President of International Sales & Business Development.

Kevin Kulish was named Vice President of Engineering at Enercon.

Gerald Hart joined Flotation Technologies as Gulf Coast Manager.

Benton Oil and Gas Company chose Steven W. Tholen as Senior Vice President and Chief Financial Officer and Treasurer and Robert Stephen Molina as Vice President, General Counsel and Secretary.

Records

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ROV to 16,000 ft
The Victor 6000 remotely operated undersea vehicle (ROV) covered almost seven miles of ocean floor in one dive at depths over 16,000 ft off the coast of Zaire, West Africa, setting a world record. The ROV explored the ocean floor and sediments at the mouth of the submarine valley of the Zaire River under the French National Institute for Maritime Research (Ifremer), TotalFinaElf, the Gabonese Directorate General for Hydrocarbons, Sonangol, and Hydrocongo in December. The mission was accomplished aboard the institute's research vessel, Atalante, which marks the seventh exploration campaign in the Zaire region under the TotalFinaElf/Ifremer program over the last three years.

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