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Date: Tue, 22 Jan 2002 15:06:07 -0800 (PST)
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Subject: RIGZONE Industry News
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=09=09=09[IMAGE]=09
=09Wednesday January 23, 2002=09[IMAGE]   =09=09
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[IMAGE]=09=09 RIGZONE [IMAGE] [IMAGE] [IMAGE] =09[IMAGE]=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]       Tanker Runs Aground In Thailan=
d  An oil tanker has run aground in Chon Buri province in the Gulf of Thail=
and and an oil slick is threatening a nearby resort island.    [IMAGE]   [I=
MAGE]  advertisement  A National-Oilwell designed, 1992 built modular offsh=
ore drilling rig is available for sale direct from the manufacturer.  This =
rig drilled only 5 wells from the Draugen platform in the Norwegian sector =
of the North Sea.  Click on the link below for full details, photos and sel=
ler contact information:   http://www.rigzone.com/market/surplus_listing.as=
p?eq_id=3D397            Exploration [IMAGE]      [IMAGE]     [IMAGE]  Shel=
l Hits Offshore Nigeria  Shell Nigeria has made a significant discovery in =
the deep waters offshore Nigeria.  Transocean Puts Two Rigs Back to Work  T=
ransocean Sedco Forex Inc. has been awarded contracts for two high-specific=
ation floating drilling rigs and has received a contract extension on a thi=
rd high-specification floating drilling rig.     [IMAGE]   [IMAGE]       Pr=
oduction [IMAGE]      [IMAGE]     [IMAGE]  Bouygues/Saipem Awarded Algerian=
 Contract  Sonatrach has awarded a joint venture of Saipem and Bouygues a $=
257 million oilfield development project in Algeria.  Kerr-McGee Boosts Res=
erves  Kerr-McGee Corp. has replaced 490% of its 2001 worldwide production =
of 108 million barrels of oil equivalent (BOE) at an average finding, devel=
opment and acquisition cost of $5.73 per BOE.  Unocal Installs Production P=
latform Offshore Indonesia  Unocal's Yakin field production platform was in=
stalled using a float over and ballast down technique resulting in a substa=
ntial cost and time savings for Unocal.    [IMAGE]   [IMAGE]       Company =
& Financial News [IMAGE]      [IMAGE]     [IMAGE]  Kongsberg Acquires Stake=
 in Seaflex AS  Kongsberg Simrad has strengthened its offshore activity by =
signing an agreement with Advanced Product and Loading AS for the acquisiti=
on of its 62% stake in Seaflex NOK 22 million.  Pogo Plans Aggressive Capit=
al Program in 2002  Pogo's Board of Directors has approved a $340 million c=
apital and exploration budget for 2002 and has planned an aggressive explor=
ation and drilling schedule.  Diamond Offshore Reports 4th Quarter Results =
 Diamond Offshore reported a net income of $39.8 million for the fourth qua=
rter of 200! 1, compared to net income of $28.7 million for the fourth quar=
ter of 2000.  PGS Sells Subsidiary  PGS and Sinochem have entered into an a=
greement for the sale of PGS' Atlantis subsidiary for approximately $215 mi=
llion.     [IMAGE]   [IMAGE]       Last 7 Days Top Stories [IMAGE]      [IM=
AGE]     [IMAGE]  Drilling Operations Halted on West Navion  Drilling opera=
tions on the West Navion have been halted for the next 2-3 weeks so the rig=
 can undergo an inspection of its derrick.  Pemex Increases Exploration Spe=
nding in 2002  Pemex plans to concentrate spending on explortion and produc=
tion projects in 2002.  U.S. Approves Deepwater Royalty Relief  Gale Norton=
, Secretary of the Interior, announced that oil and gas companies drilling =
in Gulf of Mexico deepwater will be given royalty reductions.  Kerr-McGee S=
ells Ecuadorian Assets  Kerr-McGee ha! s agreed to sell two oil lease conce=
ssions and its stake in a pipeline project in Ecuador to Perenco.  CNOOC Ac=
quires Repsol-YPF's Indonesian Assets  CNOOC has acquired Repsol-YPF's Indo=
nesian assets for US $585 million in cash.  This acquisition will make CNOO=
C the largest offsohre oil producer in Indonesia.  Conoco Focuses on Indone=
sia    Conoco expects to spend over $2.5 billion in Indonesia during the ne=
xt nine years, as part of planned investment of $3.4 billion between 1998 a=
nd 2010.  CNOOC Jackup Leaves China  CNOOC secured the first contract for o=
verseas service as an independent contractor in the international drilling =
market.  PGS Awarded $58 Million in New Contracts  Petrol! eum Geo-Services=
 ASA announced that its onshore division has secured new seismic acquisitio=
n contracts in the United States, Ecuador, India and Bangladesh valued at $=
58 million.  Statoil Sells First Oil From Girassol  Statoil has sold its fi=
rst load of crude - one million barrels - from the TotalFinaElf-operated Gi=
rassol field offshore Angola.  Energy Partners Completes Hall-Houston Acqui=
sition  Energy Partners, Ltd. has completed the acquisition of Hall-Houston=
 and has elected Gary Hall, HHOC's founder, to the post of Vice-Chairman of=
 EPL.  Venture To Begin Drilling Program on Sycamore Field  Venture Product=
ion will start drilling in May of this year at its Sycamore field in the UK=
 Sector of the North Sea.  CNOOC Announces 2002 Strategy   In 2002, CNOOC w=
ill continue to focus on growing production, executing development plans an=
d adding reserves through exploration.    [IMAGE]   [IMAGE]       Upcoming =
Oil & Gas Industry Events [IMAGE]      ! [IMAGE]     [IMAGE]  Feb. 6     To=
rch Mid-Winter Energy Conference  New York Feb. 7     Marine Construction 2=
002  Houston Feb. 10    2002 SPE International Petroleum Conference & Exhib=
ition in Mexico  Villahermosa Feb. 26    2002 IADC/SPE Drilling Conference =
and Exhibition   Dallas Feb. 26    Offshore Oil and Gas Safety Seminars  Ab=
erdeen Feb. 27    Human Resources in Oil & Gas  Aberdeen Mar. 10    AAPG An=
nual Meeting  Houston Mar. 20    LNG North America  Houston Apr. 9     2002=
 SPE/ICoTA Coiled Tubing Conference and Exhibition  Houston May. 6     Offs=
hore Technology Conference 2002  Houston  list your conference  view upcomi=
ng events   [IMAGE]   [IMAGE]    [IMAGE]    [IMAGE] [IMAGE]  Horizon Offsho=
re  Global Completion Service  HoverDril  Baker Hughes   [IMAGE]   [IMAGE] =
  promote your company      [IMAGE] [IMAGE]  [IMAGE]  Well Engineering and =
Construction on CD  [IMAGE] [IMAGE]  Practical Well Control, 4th Ed.  [IMAG=
E] [IMAGE]  Reservoir Seismology: Geophysics in N! ontechnical Language  [I=
MAGE]  [IMAGE]   [IMAGE]   more products   [IMAGE]      [IMAGE] [IMAGE]  fe=
atured equipment: Ambar Marine 26' Fast Rescue Boats  [IMAGE]   Cabot 200 D=
rilling and Workover Rig   [IMAGE][IMAGE][IMAGE] more equipment      [IMAGE=
] [IMAGE]   featured jobs:  - Safety & Regulatory Compliance Specialist  - =
Slickline Engineer  - Process/Mechanical Engineer   more hot jobs >>   feat=
ured candidates:  - Exp. Drlg. Consultant  - Talented Training Superv! isor=
  - Naval Engineer and Project Manager   search for candidates >>   [IMAGE]=
   [IMAGE]     [IMAGE] [IMAGE]   Drillships:  To 5000':   50.0% (7/14) +500=
0':   92.0% (23/25)  Semisubs:  2nd Gen:   68.5% (50/73) 3rd Gen:   86.0% (=
43/50) 4th Gen:   100.0% (38/38) 5th 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 utilization report      [IMAGE]  [IMAGE]  =
Light Crude Oil:  $18.34/BBL  (1.89%) Brent Crude Oil:  $18.74/BBL  (1.57%)=
 Natural Gas:  $2.12/MMBtu  (-4.93%) Unleaded Gasoline:  $0.55/gal  (3.77%)=
 prices from:  1/22/2002 change since:  1/21/2002  [IMAGE]    [IMAGE]   [IM=
AGE]  [IMAGE]    [IMAGE]       Promotional Opportunities Become a Sponsor, =
feature your job opening or, advertise your  upcoming industry conference. =
 Click here  for more information, send your press release to  info@rigzone=
.com  or call us at 281-345-4040.   Member Services If you no longer wish t=
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ting your account.   Click here to log in .       [IMAGE]  =09=09
