BUSINESS BRIEFS

May 1, 2001
Anadarko Petroleum Corporation signed an amendment to a production sharing agreement with Sonatrach to resume exploration of blocks 404, 208, and 211.

Veronica Murillo
Business Editor

Contracts

Anadarko Petroleum Corporation signed an amendment to a production sharing agreement with Sonatrach to resume exploration of blocks 404, 208, and 211.

BP Amoco and ENI signed an agreement with the Egyptian General Petroleum Corp. to invest about $2.5 billion to build a LNG facility.

FMC Energy Systems entered a $250 million, five-year frame contract with BP to supply subsea systems and related services in the Gulf of Mexico.

BP entered negotiations to secure a position as a foreign partner to develop China's first LNG import terminal and associated pipeline due on 2006.

Stolt Offshore S.A. signed an interim agreement with Shell Nigeria for a $200 turnkey subsea construction contract for the Bonga development off the coast of Nigeria.

PanCanadian Petroleum Limited licensed OpenLink's Endurä 5.0 for natural gas and power trading and risk management support.

Gulf of Suez Petroleum Company selected GeoQuest to build a comprehensive and secure repository for corporate E&P data.

Osca, Inc. installed an intelligent completion system and provided integrated services in the Gulf of Mexico for Anadarko Petroleum Corporation.

Kvaerner Oilfield Products installed equipment and instrumentation for the Amerada Hess northwestern field development in the Gulf of Mexico.

Oceaneering International, Inc. received a letter of intent from Angola Drilling Company, Ltd. to charter the Ocean Producer for seven years to produce the Canuku prospect offshore Angola.

Sonsub's Diverless Flowline Connection System completed a 6-in. flexible flowline tie-in on the Osprey P8 Wellhead for Shell UK Exploration and Production.

ScanRope AS of Norway signed a strategic-sourcing agreement with BP in the US to supply spiral strand mooring lines for BP's upcoming deep water developments in the Gulf of Mexico.

Bahrain's Arab Shipbuilding & Repair Yard and Iran Offshore Engineering Company signed the first rig conversion project carried by the yard.
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TH Hill provided services for the Poseidon Prospect on Mississippi Canyon 727 in the Gulf of Mexico.

Bisso Marine Co., Inc. lifted a 600-ton production module and 660-ton gas compressor onto a barge for BP/Exxon deepwater in the Gulf of Mexico.
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Aker Engineering, Inc. was awarded a five-year contract covering subsea integration and design engineering for BP's Deepwater Developments program.

Bouygues Offshore and Saipem Inc. signed a US $30 million pipelaying contract for the Canyon Express project in the Gulf of Mexico.

K. Home Engineering Ltd signed a contract to provide engineering and design services support to Wood Group.

Geoservices SA formed an 8-year alliance to provide mud-logging services to Schlumberger Oilfield Services.

El Paso Corporation signed a letter of intent with Phillips Petroleum Co. for LNG from a new gas facility in Australia.

Mergers & Acquisitions

Natco Group, Inc. acquired Axsia Group Ltd., a process design company in the UK, for $45.8 billion.

Ocean Energy, Inc. Acquisition Corp. completed a tender offer for all of the outstanding shares of common stock of Texoil, Inc. for $8.25 per share and all outstanding shares of series A preferred stock of Texoil at $18.04 per share. Total consideration was about $130 million, including assumed bank debt of $15 million and other liabilities.

Apache Corp. closed on the acquisition of Repsol YPF's assets in Egypt and Fletcher Challenge assets, worth US $1 billion.

EBIZ Enterprises Incorporated and Linux NetworX, Inc. signed a letter of intent operating agreement to allow EBIZ to manufacture Linux NetworX cluster computer nodes in the company's Technology Center. The merger is expected to finalize during the second quarter 2001.

Barret Resources Board of Director's rejected Shell Oil's all-cash $55 per share tender offer.

Company News

TotalFinaElf began production on the Atora oil field north of Gambia in the Ogooué Maritime Province.

TotalFinaElf launched a plan to development the Otter oil field in the northern UK sector of the North Sea.

Aker Maritime was offered first participation for a production license on the Norwegian continental shelf.

People

NuTec Sciences named Thomas M. LaHouse as President of the Energy Services Division and Scott C. Key as Vice President of Business Development, of the same division.

Collarini Engineering Inc. added Stephen P. Stagoski as senior geologist.

Paul Loyd, ex-CEO of R&B Falcon, joined Enterprise Oil in London as a non-executive director.

Coflexip Stena Offshore appointed Svein Eggen as Senior Vice-President of CSO Aker Maritime Deepwater Division and Stuart Bannerman and Chief Financial Officer of the new division.

Shetland Decommissioning Company named Murdo MacIver as Business Development Director.

Stratos named Richard P. Halka Executive Vice-Presi-dent and Chief Financial Officer and David J. Oake Executive Vice-President, Corporate Devel-opment.

Juha Korhonen was appointed to spearhead implementation of supply chain management and procurement for Kværner Masa-Yards.

Marcelo Taulois was named President of Kværner Oilfield Products in Brazil (Curitiba).

Steve Thorness
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Baker Oil Tools named Steve Thorness vice president of human resources.

Hans de Boer is the new Managing Director of the Dutch oil and gas trade association IRO (Zoetermeer).

Andy Lawless joined logi-stics services provider Kuehne & Nagel, which moved to new premises north of Aberdeen.

RGIT Montrose (Montrose, UK) appointed Clive Antill-Grundy as Commercial Manager.

Garth Cox joined the Steel Protection Consultancy (Milton Keynes, UK) as a full-time senior consultant.

Phillips Petroleum Company named Michael Panatier executive vice president of its refining and transportation division.

Courtesy Guyana Logistics and Support Services Inc. (GLASS)
Photo 53641391 © M R Fakhrurrozi | Dreamstime.com
Courtesy OEG Energy Group