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Date: Mon, 28 Jan 2002 14:25:23 -0800 (PST)
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=09Tuesday January 29, 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]       Kuwait Invites Bidders for Ups=
tream Project  Kuwait Petroleum Corp. is requesting that more international=
 companies bid for interest in its upstream oil development project in its =
Northern oilfields.  AEC and PanCanadian Confirms Merger Plans  Alberta Ene=
rgy Company and PanCanadian join forces in a "merger of equals" that will c=
reate one of North America's larges! t independent energy companies.    [IM=
AGE]   [IMAGE]  advertisement  A National-Oilwell designed, 1992 built modu=
lar offshore drilling rig is available for sale direct from the manufacture=
r.  This rig drilled only 5 wells from the Draugen platform in the Norwegia=
n sector of the North Sea.  Click on the link below for full details, photo=
s and seller contact information:   http://www.rigzone.com/market/surplus_l=
isting.asp?eq_id=3D397            Exploration [IMAGE]      [IMAGE]     [IMA=
GE]  McMoRan Sells Certain Oil & Gas Assets  McMoRan Exploration Co. has si=
gned a definitive agreement to sell three of its oil and gas properties to =
a third party for $60 million.     [IMAGE]   [IMAGE]       Production [IMAG=
E]      [IMAGE]     [IMAGE]  TotalFinaElf Starts-Up Desgas Project in Syria=
  The Desgas project establishes TotalFinaElf as a key gas industry player =
in Syria, where the Group already operates a production of around 50,000 ba=
rrels per day of oil in partnership with the SPC.  CNOOC Orders FPSO  CNOOC=
 orders FPSO capable of handling 4.5 million tons of crude for its Fanyu Oi=
lfield.  Unocal Replaces 222% of 2001 Production  Unocal Corporation said i=
t replaced 2! 22 percent of its worldwide crude oil and natural gas product=
ion during 2001 with new proved reserves.  ExxonMobil Replaces 111% of Prod=
uction  ExxonMobil Corporation announced that additions to its worldwide pr=
oved oil and gas reserves totaled 1.8 billion oil-equivalent barrels in 200=
1.    [IMAGE]   [IMAGE]       Company & Financial News [IMAGE]      [IMAGE]=
     [IMAGE]  Swift Completes Acquisition of New Zealand Assets  Swift Ener=
gy has completed the acquisition of Southern Petroleum for approximately US=
 $54.4 million in cash.  Chinese Companies On Buying Spree  Chinese oil com=
panies are in the market for investments to enhance shareholder value and b=
oost supplies for domestic refineries.    [IMAGE]   [IMAGE]       Last 7 Da=
ys Top Stories [IMAGE]      [IMAGE]     [IMAGE]  Kvaerner Awarded  Escravos=
 FEED Contract  Kvaerner has been awarded the FEED work for the Escravos Ga=
s Project Phase 3 by NNPC/Chevron.  Court Rules on Offshore Injury Case  Un=
ited States Fifth Circuit Court of Appeals decides that wireline perforatio=
n used in drilling and capping wells is not "ultrahazardous".  Conoco Sets =
Budget for 2002  Conoco to spend the majority of its $2.8 billion dollar bu=
dget on upstream operations in 2002.  Transocean Puts Two Rigs Back to Work=
  Transocean Sedco Forex Inc. has been awarded contracts for two high-speci=
f! ication floating drilling rigs and has received a contract extension on =
a third high-specification floating drilling rig.   Marathon Makes Discover=
y in Alaska  Marathon oil has made a significant discovery on its Ninilchik=
 Prospect located approximately 35 miles south of Kenai, Alaska.  Bouygues/=
Saipem Awarded Algerian Contract  Sonatrach has awarded a joint venture of =
Saipem and Bouygues a $257 million oilfield development project in Algeria.=
  Shell Hits Offshore Nigeria  Shell Nigeria has made a significant discove=
ry in the deep waters offshore Nigeria.  Kvaerner To Open New Umbilicals Fa=
cility  Kvaerner has decided to invest NOK 100 million in a new umbilicals =
production facility for the subsea segment of the oil and gas industry in t=
he Gulf of Mexico or Houston area.  Westcoast Energy Reaches Milestone in M=
exico  Westcoast Energy announced has reached a major milestone in the deve=
lopment of the Campeche Natural Gas Compression Services Project in Mexico.=
  Trident Appraisal Well Successful  Unocal Corporation said that it contin=
ues to be encouraged after successfully completing the first appraisal well=
 at the Trident deepwater Gulf of Mexico discovery in Alaminos Canyon Block=
 903.  Pogo Plans Aggressive Capital Program in 2002  Pogo's Board of Direc=
tors has approved a $340 million capital and exploration budget for 2002 an=
d has planned an aggressive exploration and drilling schedule.  Unocal Inst=
alls Production Platform Offshore Indonesia  Unocal's Yakin field productio=
n platform was installed using a float over and ballast down technique resu=
lting in a substantial cost and time savings for Unocal.    [IMAGE]   [IMAG=
E]       Upcoming Oil & Gas Industry Events [IMAGE]      [IMAGE]     [IMAGE=
]  Jan. 29    NAPE Expo 2002  Houston Feb. 6     Torch Mid-Winter Energy Co=
nference  New York Feb. 7     Marine Construction 2002  Houston Feb. 10    =
2002 SPE International Petroleum Conference & Exhibition in Mexico  Villahe=
rmosa Feb. 26    2002 IADC/SPE Drilling Conference and Exhibition   Dallas =
Feb. 26    Offshore Oil and Gas Safety Seminars  Aberdeen Feb. 27    Human!=
 Resources in Oil & Gas  Aberdeen Mar. 10    AAPG Annual Meeting  Houston M=
ar. 20    LNG North America  Houston Apr. 9     2002 SPE/ICoTA Coiled Tubin=
g Conference and Exhibition  Houston  list your conference  view upcoming e=
vents   [IMAGE]   [IMAGE]    [IMAGE]    [IMAGE] [IMAGE]  Horizon Offshore  =
Global Completion Service  HoverDril  Baker Hughes   [IMAGE]   [IMAGE]   pr=
omote your company      [IMAGE] [IMAGE]  [IMAGE]  Natural Gas Systems Map  =
[IMAGE] [IMAGE]  Gulf of Mexico Oil and Gas Activity and Lease Map, 6th Ed.=
  [IMAGE] [IMAGE]   Gulf of Mexico Activity Report  [IMAGE]  [IMAGE]   [IMA=
GE]   more products   [IMAGE]      [IMAGE] [IMAGE]  featured eq! uipment: I=
DECO 3000HP Mechanical Land Rig  [IMAGE]   Ambar Marine 26' Fast Rescue Boa=
ts  [IMAGE]   [IMAGE]   [IMAGE]   more equipment      [IMAGE] [IMAGE]   fea=
tured jobs:  - Hydrographic Surveyor  - Account Rep - Business Development =
 - Well Site Geologist   more hot jobs >>   featured candidates:  - Plannin=
g & Scheduling Engineer   - Exp. Drlg. Consultant  - Exploration Geophysici=
st & Seismic Acquisition QC search for candidates >>   [IMAGE]   [IMAGE]   =
  [IMAGE] [IMAGE]   Drillships:  To 5000':   50.0% (7/14) +5000':   96.0% (=
24/25)  Semisubs:  2nd Gen:   69.9% (51/73) 3rd Gen:   86.0% (43/50) 4th Ge=
n:   100.0% (38/38) 5th Gen:   100.0% (7/7)  Jackups:  To 200':   58.2%  (3=
9/67) 200' MC:   58.3% (14/24) 200' MS:   14.3% (3/21) 300' IC:   86.5% (83=
/96) +300' IC:   92.6% (50/54) Severe Env.:   90.5% (19/21)  [IMAGE]   [IMA=
GE]   view complete utilization report      [IMAGE] [IMAGE]  Light Crude Oi=
l:  $20.10/BBL  (3.61%) Brent Crude Oil:  $19.60/BBL  (-1.95%) Natural Gas:=
  $1.92/MMBtu  (-5.42%) Unleaded Gasoline:  $0.58/gal  (0.00%) prices from:=
  1/28/2002 change since:  1/25/2002  [IMAGE]   [IMAGE]    [IMAGE] =09[IMAG=
E]=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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