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Date: Thu, 24 Jan 2002 15:40:44 -0800 (PST)
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=09Friday January 25, 2002=09[IMAGE]   =09=09=09
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[IMAGE]=09=09 RIGZONE [IMAGE] [IMAGE] [IMAGE] =09[IMAGE]=09=09
[IMAGE]=09=09home    | news    | search    | maps    | data    | jobs    | =
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[IMAGE]=09=09      [IMAGE] [IMAGE]      In This Issue [IMAGE]      [IMAGE] =
    [IMAGE]    Current Oil and Gas Industry News T! op Stories for the Past=
 7 Days Featured Events and Conferences What's in Store - Books & More     =
Featured Employment Opportunities Surplus Oilfield Equipment For Sale World=
wide Offshore Rig Utilization Oil & Gas Prices    [IMAGE]   [IMAGE]       I=
ndustry Headlines [IMAGE]      [IMAGE]       Woodside Eyes Veba Assets  Woo=
dside is interested in acquiring the assets of Vebal Oil and Gas but has de=
clined to release details.   Court Rules on Offshore Injury Case  United St=
ates Fifth Circuit Court of Appeals decides that wireline perforation used =
in drilling and capping wells is not "ultrahazardous".    [IMAGE]   [IMAGE]=
  advertisement  A National-Oilwell designed, 1992 built modular offshore d=
rilling rig is available for sale direct from the manufacturer.  This rig d=
rilled only 5 wells from the Draugen platform in the Norwegian sector of th=
e North Sea.  Click on the link below for full details, photos and seller c=
ontact information:   http://www.rigzone.com/market/surplus_listing.asp?eq_=
id=3D397            Exploration [IMAGE]      [IMAGE]     [IMAGE]  Origin Ac=
quires Stake in WA 226P Offshore Australia  Origin Energy advises has reach=
ed agreement with Dana Petroleum plc and Black Rock Petroleum to earn 30% e=
quity in the WA 226P Permit and assume Operatorship.  Trident Appraisal Wel=
l Successful  Unocal Corporation said that it continues to be encouraged af=
ter successfully completing the first appraisal well at the Trident deepwat=
er Gulf of Mexico discovery in Alaminos Canyon Block 903.  CNODC Acquires I=
nterest in Azeri Fields  China National Oil and Gas Exploration and Develop=
ment Corp. and CNPC have signed two separate agreements whereby CNODC and C=
NPCHK will acquire a 30% interest in the Kursangi and Karabagli oil fields =
in Azerbaijan.    [IMAGE]   [IMAGE]       Production [IMAGE]      [IMAGE]  =
   [IMAGE]  Kvaerner To Open New Umbilicals Facility  Kvaerner has decided =
to invest NOK 100 million in a new umbilicals production facility for the s=
ubsea segment of the oil and gas industry in the Gulf of Mexico or Houston =
area.  Veba Boosts Production from Hanze Field  Veba is producing 31,500 ba=
rrels of oil daily from its recently developed Hanze field. This represents=
 almost two thirds of Dutch oil production.    [IMAGE]   [IMAGE]       Comp=
any & Financial! News [IMAGE]      [IMAGE]     [IMAGE]  Ensco Releases 2001=
 Results  ENSCO reported that fourth-quarter net income fell 30 percent as =
low energy prices cut drilling activity in the Gulf of Mexico.   Conoco Set=
s Budget for 2002  Conoco to spend the majority of its $2.8 billion dollar =
budget on upstream operations in 2002.  Nabors Industries Has Record Year  =
Nabors Industries Inc. said its fourth-quarter earnings rose slightly even =
though North American natural gas drilling slowed down as a result of lower=
 gas prices.     [IMAGE]   [IMAGE]       Last 7 Days Top Stories [IMAGE]   =
   [IMAGE]     [IMAGE]  Drilling Operations Halted on West Navion  Drilling=
 operations on the West Navion have been halted for the next 2-3 weeks so t=
he rig can undergo an inspection of its derrick.  Pemex Increases Explorati=
on Spending in 2002  Pemex plans to concentrate spending on explortion and =
production projects in 2002.  Conoco Focuses on Indonesia    Conoco expects=
 to spend over $2.5 billion in Indonesia during the next nine years, as par=
t of planned investment of $3.4 billion between 1998 and 2010.  Kerr-McGee =
Sells Ecuadorian Assets  Kerr-McGee has agr! eed to sell two oil lease conc=
essions and its stake in a pipeline project in Ecuador to Perenco.  CNOOC A=
cquires Repsol-YPF's Indonesian Assets  CNOOC has acquired Repsol-YPF's Ind=
onesian assets for US $585 million in cash.  This acquisition will make CNO=
OC the largest offsohre oil producer in Indonesia.  CNOOC Jackup Leaves Chi=
na  CNOOC secured the first contract for overseas service as an independent=
 contractor in the international drilling market.  Kvaerner Awarded  Escrav=
os FEED Contract  Kvaerner has been awarded the FEED work for the Escravos =
Gas Project Phase 3 by NNPC/Chevron.  Transocean Puts Two Rigs Back to Work=
  Transocean Sedco Forex Inc. has been awarded contracts for tw! o high-spe=
cification floating drilling rigs and has received a contract extension on =
a third high-specification floating drilling rig.   PGS Awarded $58 Million=
 in New Contracts  Petroleum Geo-Services ASA announced that its onshore di=
vision has secured new seismic acquisition contracts in the United States, =
Ecuador, India and Bangladesh valued at $58 million.  Bouygues/Saipem Award=
ed Algerian Contract  Sonatrach has awarded a joint venture of Saipem and B=
ouygues a $257 million oilfield development project in Algeria.  Shell Hits=
 Offshore Nigeria  Shell Nigeria has made a significant discovery in the de=
ep waters offshore Nigeria.  CNOOC Announces 2002 Strategy   In 2002, CNOOC=
 will continue to focus on growing production, executing development plans =
and adding reserves through exploration.    [IMAGE]   [IMAGE]       Upcomin=
g Oil & Gas Industry Events [IMAGE]      [IMAGE]     [IMAGE]  Jan. 29    NA=
PE Expo 2002  Houston Feb. 6     Torch Mid-Winter Energy Conference  New Yo=
rk Feb. 7     Marine Construction 2002  Houston Feb. 10    2002 SPE Interna=
tional Petroleum Conference & Exhibition in Mexico  Villahermosa Feb. 26   =
 2002 IADC/SPE Drilling Conference and Exhibition   Dallas Feb. 26    Offsh=
ore Oil and Gas Safety Seminars  Aberdeen Feb. 27    Human Resources in Oil=
 & Gas  Aberdeen Mar. 10    AAPG Annual Meeting  Houston Mar. 20    LNG Nor=
th America  Houston Apr. 9     2002 SPE/ICoTA Coiled Tubing Conference and =
Exhibition  Houston  list your conference  view upcoming events   [IMAGE]  =
 [IMAGE]    [IMAGE]    [IMAGE] [IMAGE]  Horizon Offshore  Global Completion=
 Service  HoverDril  Baker Hughes   [IMAGE]      promote your company      =
[IMAGE] [IMAGE]  [IMAGE]  Natural Gas in Nontechnical Language  [IMAGE] [IM=
AGE]  2001 International Petroleum Encyclopedia  [IMAGE] [IMAGE]  Hydrocarb=
on Exploration and Production  [IMAGE] [IMAGE]    [IMAGE]   more products  =
 [IMAGE]      [IMAGE] [IMAGE]  !  featured equipment: Ambar Marine 26' Fast=
 Rescue Boats   [IMAGE]     Self-Contained Platform Rig   [IMAGE]    [IMAGE=
]   [IMAGE]   more equipment      [IMAGE] [IMAGE]   featured jobs:  - Senio=
r Structural Engineer   - Electrical Engineer  - Fishing Specialist (Engine=
er)   more hot jobs >>   featured candidates:  - CFO - Controller  - Direct=
ional Drilling Coordinator  - International Business Devel! opment Engineer=
   search for candidates >>   [IMAGE]   [IMAGE]     [IMAGE] [IMAGE]   Drill=
ships:!   To 5000':   50.0% (7/14) +5000':   92.0% (23/25)  Semisubs:  2nd =
Gen:   68.5% (50/73) 3rd Gen:   86.0% (43/50) 4th Gen: !   100.0% (38/38) 5=
th Gen:   100.0% (7/7)  Jackups:  To 200':   58.2%  (39/67) 200' MC:   58.3=
% (14/24) 200' MS:   14.3% (3/21) 300' IC:   87.5% (84/96) +300' IC:   88.9=
% (48/54) Severe Env.:   81.0% (17/21)  [IMAGE]   [IMAGE]   view complete u=
tilization report      [IMAGE] [IMAGE]  Light Crude Oil:  $19.72/BBL  (1.18=
%) Brent Crude Oil:  $19.14/BBL  (0.10%) Natural Gas:  $2.02/MMBtu  (-2.88%=
) Unleaded Gasoline:  $0.57/gal  (1.79%) prices from:  1/24/2002 change sin=
ce:  1/23/2002  [IMAGE]   [IMAGE]    [IMAGE] =09[IMAGE]=09=09
=09=09=09[IMAGE]=09=09
=09=09=09  Promotional Opportunities Become a Sponsor, feature your job ope=
ning or, advertise your  upcoming industry conference.  Click here  for mor=
e information, send your press release to  info@rigzone.com  or call us at =
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