Leading Oilfield Services Firms To Form Supplier Portal; Expected To Significantly Facilitate Energy Industry B2b Commerce

Houston (August 9, 2000) - Twelve major oilfield services firms have announced their intention to work together to form a joint venture company, OFS Portal. OFS Portal would provide customers a single source of standardized electronic catalog and service agreement information for the upstream products and services provided by the participating suppliers. The firms are ABB, Baker Hughes, BJ Services, Cooper Cameron, ENSCO, FMC, Halliburton, National Oilwell, Schlumberger, Smith International, Transocean Sedco Forex and Weatherford. The first step in the plan is to conduct the design study, which is now underway.

OFS Portal services would be available worldwide to all customers, either individually or through B2B exchanges. Suppliers in all oilfield products and services segments would have the opportunity to participate in OFS Portal.

In taking this action, the participating companies are responding to the increasing number of requests from B2B exchanges and portals, as well as many individual customers, to provide information and support to their various online procurement efforts. The twelve founding members of OFS Portal believe e-commerce has enormous potential for the industry. The intent of OFS Portal is to benefit both buyers and sellers by reducing overall costs and improving efficiency through a common approach to integrating supplier offerings into multiple e-procurement environments.

As a not-for-profit independent service, OFS Portal would format and publish standardized content, enable subscription by users, establish transaction standards, and facilitate other aspects of the procurement process. OFS Portal would not operate as an exchange for executing transactions.

 For additional information, contact:
 ABB 			  Noel Monjure - 281-847-4614 
 Baker Hughes		  Gary Flaharty  - 713-439-8039
 BJ Services		  Mike McShane - 713-462-4239
 Cooper Cameron		  Scott Amann - 713-513-3344
 ENSCO 			  Richard LeBlanc - 214-922-1550
 FMC 			  John Hatch - 281-591-4208 
 Halliburton		  Guy Marcus - 214-978-2691
 National Oilwell	  Alex Prejean - 713-346-7664 
 Schlumberger		  Linda Silinsky - 281-285-4270
 Smith International	  Margaret Dorman - 281-443-3370
 Transocean Sedco Forex	  Jeff Chastain - 713-232-7551
 Weatherford		  Don Galletly - 713-693-4148