Message-ID: <13031791.1075843952948.JavaMail.evans@thyme>
Date: Wed, 30 May 2001 10:29:00 -0700 (PDT)
From: terence.thorn@enron.com
To: john.nowlan@enron.com, douglas.friedman@enron.com
Subject: SABIC
Cc: mike.mcconnell@enron.com
Mime-Version: 1.0
Content-Type: text/plain; charset=us-ascii
Content-Transfer-Encoding: 7bit
Bcc: mike.mcconnell@enron.com
X-From: Terence H Thorn
X-To: John L Nowlan, Douglas S Friedman
X-cc: Mike McConnell
X-bcc: 
X-Folder: \Mark_McConnell_June2001\Notes Folders\Notes inbox
X-Origin: MCCONNELL-M
X-FileName: mmcconn.nsf

Here's a follow-up to our SABIC conversations.

 Doug did a great job on pitching Enron Online and answering all of their 
questions. I pushed them hard over lunch about the next step and how we get 
them to use Enron Online. I couldn't figure out why they were so hesitant 
until Mohammad told me they were (I think I heard him right) equity investors 
in Chem Connect. Quite simply, they know they made a mistake and need some 
time to explain why they would invest in one system but want to use another. 
What I need to do is follow up with a letter touting why they need to use 
Enron Online and why is doesn't conflict with Chem Connect.

There is another way we can continue to solidify our relationship: In late 
June their operations planning group will be in Houston (25-29). The 
Operations Planning and Economics Studies Group is headed by Vice President 
Al-Sadhan and would like to benchmark our operations, planning, budgeting and 
performance reporting. They are looking for a broad overview and I think we 
can put together a visit  that sells Enron as a partner. The more SABIC 
people exposed to us the better chance we have to make in roads. Who should I 
work with on setting up what should be no more than a 2-3 hour visit?

Finally, I should update you on Saudi and the gas initiative. As you know, 
when Oxy/Enron was invited into the Kingdom, SABIC approached me to partner 
in the downstream portion of the project. Since that time, Enron has had to 
notify the Saudi's that Oxy will be the lead, that we will not contribute an 
equity or directly participate in any segment of the project,  we will have 
an advisory role and will not sign the MOU on June 3. It looks like the Saudi 
reaction was to replace us with Marathon which is causing some heartburn with 
Oxy as they sort out partnership shares, Oxy not wanting to drop below their 
30%.  I have talked to Oxy about SABIC and think I can  keep SABIC's  
partnership interest alive. It is just a very delicate situation right now 
and Enron needs to stay quietly on the side lines until the signing on June 
3.