BUSINESS BRIEFS

Contracts

Schlumberger Oilfield Services announced it has been awarded by BHP Petroleum (Americas) Inc., two multi-million dollar contracts for seismic data processing services.

Aker Marine Contractors, Inc. and Chevron Overseas Petroleum Azerbaijan Limited have recently signed a contract for the provision of a preset mooring system to support Chevron's drilling program off Azerbaijan in the Caspian Sea.

Statoil has made use of an option to prolong a well service contract with the Aker Maritime subsidiary Maritime Well Service. The agreement, which will run until November 2001, is worth about NOK 240 million. The work calls for the use of advanced equipment and specialized services to ensure the most productive use is made of Statoil's oil and gas wells.

People

Bjarne Skeie has assumed the position as Chairman of the Board of Ocean Rig ASA following Tom B. Knudsen who will continue as legal advisor for the company.

Marathon Oil UK'sDave Smithhas replaced Francis Gugen as President of the UK Offshore Operators Association (London).

Dragon Oil has relocated to Dubai, withIan Baron as Chief Executive Officer.

Schlumberger'sTim Eley is the new Chairman of the International Coiled Tubing Association (Aberdeen). Wellserv's David Lord has been elected Co-chairman.

Riser and mooring systems specialist MCS International (Aberdeen) has appointedBill Allan as Non-Executive Chairman.

Offshore modules fabricator Ferguson Seacabs (Aberdeen) has recruitedAlex Dron as General Manager.

Petroleum Geo-Services has recently promotedErik Hokholt to Director of Financial Planning and European Investor Relations based in Oslo.

Knut Reed has been appointed CEO of the new global mobile satellite business joint venture between Telstra and KPN, based in The Hague.

Valve interlock specialist Smith Flow Control (Witham, UK) has namedIan McDonnell as Business Development Manager.

Canyon Offshore has announced the appointment ofKinton Lawler to the position of Intervention Project Engineer, working in Canyon Offshore's Technical Group at its Houston facility.

Thomas Morrow has been promoted to President of Challenger Minerals, the oil and gas subsidiary of Global Marine.

Mergers, acquisitions & new companies

BP Amoco announced it will acquire a 3% interest in Altra Energy Technologies, Inc., as part of the company's strategy to increase its web-trading presence.

Canyon Offshore is expanding its subsea capabilities with the purchase of several cable burial systems, depth rated to 2,500 meters. Canyon is currently in negotiation with the manufacturers and expects to take delivery of the first new system in August of this year.

Company News

Vanco Energy Company, under its subsidiary Vanco Netherlands B.V., has opened an office in Delft, The Netherlands. This is the first time Vanco has established an office in The Netherlands for the purpose of becoming an operator. ;