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Date: Mon, 21 Jan 2002 14:29:26 -0800 (PST)
From: newsletter@rigzone.com
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Subject: RIGZONE Industry News
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=09=09=09[IMAGE]=09=09
=09Tuesday January 22, 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]       SCORE Down for December 2001  =
Houston-based international offshore drilling contractor GlobalSantaFe repo=
rted that the company's worldwide SCORE for December 2001 was down from the=
 previous month's SCORE by 1.7 percent.     [IMAGE]   [IMAGE]  advertisemen=
t  A National-Oilwell designed, 1992 built modular offshore 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 seller contact informa=
tion:   http://www.rigzone.com/market/surplus_listing.asp?eq_id=3D397      =
      Exploration [IMAGE]      [IMAGE]     [IMAGE]  Shell Continues Focus o=
n Offshore Malaysia in 2002  Shell will continue its deepwater exploration =
efforts offshore Malaysia in Block E and Block G this year.  Petrovietnam I=
nks Deal for Cuu Long Basin Block  Petrovietnam, Zarubezhneft and Idemitsu =
have signed a production sharing agreement for the 09-3 block in the Cuu Lo=
ng Basin offshore Vietnam.  Greenland Launches 2nd Licensing Round  The 2nd=
 offshore licensing round for Greenland is expected to start in April, foll=
owing government approval.    [IMAGE]   [IMAGE]       Production [IMAGE]   =
   [IMAGE]     [IMAGE]  Westcoast Energy Reaches Milestone in Mexico  Westc=
oast Energy announced has reached a major milestone in the ! development of=
 the Campeche Natural Gas Compression Services Project in Mexico.  Statfjor=
d C Shutdown    Production from Statfjord C has been shut down after find c=
orrosion damage in the flare system.  Dragon Oil Carries Out Production Tes=
ting in Caspian Sea  Dragon Oil has begun a 10-day testing program of its L=
AM 22-102 well in the Caspian Sea.    [IMAGE]   [IMAGE]       Company & Fin=
ancial News [IMAGE]      [IMAGE]     [IMAGE]  Thomas O'Malley Resigns From =
Phillips  Thomas O'Malley has resigned from the Phillips Board of Directors=
 to pursue other avenues in the energy industry.  Oil Search and Orogen Min=
erals Agree to Merge Oil Search and Orogen Minerals have agreed to merge in=
 a deal valued at A1.4 billion.    [IMAGE]   [IMAGE]       Last 7 Days Top =
Stories [IMAGE]      [IMAGE]!      [IMAGE]  Former Enron Execs Start New Co=
mpany  Several former Enron senior executives have formed a new company to =
provide risk management services to the energy industry.  Drilling Operatio=
ns Halted on West Navion  Drilling operations on the West Navion have been =
halted for the next 2-3 weeks so the rig can undergo an inspection of its d=
errick.  Anadarko Petroleum Provides 2002 Outlook  Anadarko Petroleum Corpo=
ration outlines its expectations for capital spending for 2002 and offers g=
uidance on 2001 financial and operating results.U.S. Approves Deepwater Roy=
alty Relief  Gale Norton, Secretary of the Interior, announced that oil and=
 gas companies drilling in Gulf of Mexico deepwater will be given royalty r=
eductions.  Pemex Increases Exploration Spending in 2002  Pemex plans to co=
ncentrate spending on explortion and production projects in 2002.  Conoco F=
ocuses on Indonesia    Conoco expects to spend over $2.5 billion in Indones=
ia during the next nine years, as part of planned investment of $3.4 billio=
n between 1998 and 2010.  CNOOC Acquires Repsol-YPF's Indonesian Assets  CN=
OOC has acquired Repsol-YPF's Indonesian assets for US $585 million in cash=
.  This acquisition will make CNOOC the largest offsohre oil prod! ucer in =
Indonesia.  CNOOC Jackup Leaves China  CNOOC secured the first contract for=
 overseas service as an independent contractor in the international drillin=
g market.  PGS Awarded $58 Million in New Contracts  Petroleum 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.  Kerr-McGee Sells Ecuadorian Assets  Kerr-McGee has agreed to s=
ell two oil lease concessions and its stake in a pipeline project in Ecuado=
r to Perenco.  Shell and CNOOC Sign PSC Agreement  CNOOC and Shell Explorat=
ion China Limited signed a Production Sharing Contract for the exploration =
of the Bon! an area of Bohai Bay.  Talisman Expects to Spend $2 Billion in =
2002  Talisman's 2002 budget for exploration and development is $2 billion =
which is a 6% increase over the 2001 budget.    [IMAGE]   [IMAGE]       Upc=
oming Oil & Gas Industry Events [IMAGE]      [IMAGE]     [IMAGE]  Jan. 22  =
  Alliances and Partnering in Oil & Gas   Singapore Feb. 6     Torch Mid-Wi=
nter Energy Conference  New York Feb. 7     Marine Construction 2002  Houst=
on Feb. 10    2002 SPE International Petroleum Conference & Exhibition in M=
exico  Villahermosa Feb. 26    2002 IADC/SPE Drilling Conference and Exhibi=
tion   Dallas Feb. 26    Offshore Oil and Gas Safety Seminars  Aberdeen Feb=
. 27    Human Resources in Oil & Gas  Aberdeen Mar. 10    AAPG Annual Meeti=
ng  Houston Mar. 20    LNG North America  Houston Apr. 9     2002 SPE/ICoTA=
 Coiled Tubing Conference and Exhibition  Houston  list your conference  vi=
ew upcoming events   [IMAGE]   [IMAGE]    [IMAGE]    [IMAGE] [IMAGE]  Horiz=
on Offshore  Global Completion Service  HoverDril  Baker Hughes   [IMAGE]  =
 [IMAGE]   promote your company      [IMAGE] [IMAGE]  [IMAGE]  Drilling Mud=
 and Cement Slurry Rheology Manual  [IMAGE] [IMAGE]  International Daywork =
Drilling Contract - Land  [IMAGE] [IMAGE]  Well Control for Completion and =
Workover  [IMAGE]  [IMAGE]   [IMAGE]   more products   [IMAGE]      [IMAGE]=
 [IMAGE]  featured equipment: Cabot 200 Drilling and Workover Rig   [IMAGE]=
   Oilwell 840-E  [IMAGE]   [IMAGE]   [IMAGE]   more equipment      [IMAGE]=
 [IMAGE]   featured jobs: !  - Sr. Drilling Engineer  - I?Manager  - Safety=
 & Regulatory Compliance Specialist   more hot jobs >>   featured candidate=
s:  - Lead Lease Operator  - Senior Instrument Technician, Lead Instrument =
Tech  - Senior Data Engineer   search for candidates >>   [IMAGE]   [IMAGE]=
     [IMAGE] [IMAGE]   Drillships:  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) 5th Gen:   100.0% (7/7)  Jackups:  To 200':   56.7%  =
(38/67) 200' MC:   58.3% (14/24) 200' MS:   14.3% (3/21) 300' IC:   87.5% (=
84/96) +300' IC:   90.7% (49/54) Severe Env.:   81.0% (17/21)  [IMAGE]   [I=
MAGE]   view complete utilization report      [IMAGE] [IMAGE]  Light Crude =
Oil:  $18.00/BBL  (0.00%) Brent Crude Oil: !  $18.45/BBL  (0.00%) Natural G=
as:  $2.23/MMBtu  (0.00%) Unleaded Gasoline:  $0.53/gal  (-1.85%) prices fr=
om:  1/21/2002 change since:  1/18/2002  [IMAGE]   [IMAGE]    [IMAGE] =09[I=
MAGE]=09=09
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=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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