Word: oilfield
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Dates: during 1980-1989
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Those were the last words heard from the Ocean Ranger. By the time the first rescue aircraft were able to reach the site of the rig, located in the potentially rich Hibernia oilfield 180 miles east of St. John's, Nfld., it was almost dawn. All that could be seen in the roiling waves were overturned lifeboats, several bodies and bits of debris...
...forces in most countries have long used such equipment to protect their secrets. A few aggressive small firms like Datotek in Dallas are having success selling encryption devices to companies. Some of Datotek's best customers are oil firms, which fear that competitors will steal the results of oilfield tests that reveal promising drilling sites. Computer-security specialists predict that the demand for electronic scramblers will soon explode. Says Donn Parker of SRI International, a California research firm: "Encryption is the control of the future. During the '80s it will become very important...
...equipment have names like Applicon, Calma and Computervision, and are among the hottest of the hot new high-tech darlings of Wall Street. Applicon, a leader in the field, with fiscal 1980 sales of $75 million, is being taken over by New York City-based Schlumberger Ltd., the big oilfield services firm, which is anxious to establish a strong foothold in the field...
Phase 1 of a $5 billion iron-and steelworks at Baoshan, near Shanghai, and- a huge petrochemical complex at the Daqing oilfield in Heilongjiang province...
DIED. John W. Mecom Sr., 70, former oilfield roustabout whose success at turning abandoned wells into profitable operations, along with his initiative hi developing new fields in locales from Louisiana to Saudi Arabia, once ranked him with independent Oil Tycoons J. Paul Getty and H.L. Hunt; of a heart ailment; in Houston. An unpretentious man who never had a chauffeur (but who occasionally donned a chauffeur's cap to drive his wife around in a limousine), "Big John" at times was estimated to be worth more than $200 million, but in 1970 filed two bankruptcy petitions. Out of that...