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	Thursday February 21, 2002	[IMAGE] 			
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[IMAGE]		      [IMAGE] [IMAGE]     In Th! is Issue [IMAGE]      [IMAGE]     [IMAGE]    Current Oil and Gas Industry News Top Stories for the Past 7 Days Featured Events and Conferences What's in Store - Books & More     Featured Employment Opportunities Surplus Oilfie! ld Equipment For Sale Worldwide Offshore Rig Utilization Oil & Gas Prices    [IMAGE]   [IMAGE]      Industry Headlines [IMAGE]      [IMAGE]     [IMAGE]  Russia Not Ready to Make Decision on Further Cuts  Russian oil company executives have met with Russian Prime Minister Mikhail Kasyanov to discuss Russia's oil problems, but the possibility of extending the cut on oil exports into the second quarter of 2002 did not arise.  GlobalSantaFe's Worldwide SCORE Remains Flat   GlobalSantaFe reported that the company's worldwide SCORE, or Summary of Current Offshore Rig Economics, for January 2002 was down from the previous month's SCORE by 0.2 percent.  Offshore Liftboat Sinks in the Gulf of Mexico  Nineteen rig workers wer! e rescued from the choppy waters off the Alabama coast as the wreckage of the liftboat floated nearby.    [IMAGE]   [IMAGE]  advertisement  Welcome to the world of Thuraya, where communication knows no boundaries. Thuraya provides mobile satellite telephony to 99 countries throughout Europe, North and Central Africa, the Middle East, Central Asia and the Indian Sub-continent. With a combination of cellular and satellite phone capabilities bolstered by GPS and data features, Thuraya provides the total communications solution you've been looking for.Click for more...          Exploration [IMAGE]      [IMAGE]     [IMAGE]  BP Renames Gulf of Mexico Discovery  BP announced it has retired the name Crazy Horse, and has re-named its major Gulf of Mexico discovery Thunder Horse.  BG Awarded Licenses Offshore Spain  BG Group's application for seven offshore exploration licenses in Spain has received Cabinet approval from the Spanish Government.    [IMAGE]   [IMAGE]      Production ! [IMAGE]      [IMAGE]     [IMAGE]  Shell's Sunrise Facility Approved  Woodside Petroleum has approved the controversial proposal by Shell to develop the Timor Sea gas resources via the world's first floating liquefied natural gas facility.  BHP To Invest in GOM Pipeline System  BHP Billiton will take equity ownership in two limited liability companies that will transport hydrocarbons from Mad Dog Atlantis in the ultra-deepwater Gulf of Mexico.    [IMAGE]   [IMAGE]      Company & Financial News [IMAGE]      [IMAGE]     [IMAGE]  2001 Safer Year for Statoil  Statoil's health, safety and environment (HSE) results for 2001 show a marked decline in the number of injuries.  FMC Energy Inks Deal with Norsk Hydro  FMC Energy Systems business has signed a total vendor management frame agreement with Norsk Hydro through 2009.  BJ Services Acquires OSCA, Inc.  BJ Services Company has signed a definitive merger agreement to acquire OSCA, Inc. for $28.00 per share!   National Oilwell Elects New Board Member  National-Oilwell, Inc. announced that Roger L. Jarvis, chairman, president and chief executive officer of Spinnaker Exploration Company, has been appointed to National Oilwell's board of directors.    [IMAGE]   [IMAGE]      Last 7 Days Top Stories [IMAGE]      [IMAGE]     [IMAGE]  Russian Environmentalists Seeking Sakhalin Drilling Ban  A Moscow court will hear a lawsuit in April filed by Russian environmental groups seeking to ban oil and gas projects off Sakhalin island in the Russian Far East.  Hydralift Acquires AmClyde  Hydralift ASA has entered into a contract to acquire substantially all of the assets and activities of AmClyde Engineered Products Company, Inc. from the bankrupt! cy estate of Friede Goldman Halter, Inc.  Ottawa Could Open Coast to Offshore Drilling  Ottawa officials said they are prepared to consider a proposal to remove the long-standing moratorium on offshore oil and gas drilling in British Columbia.  El Paso Pulls The Trigger on Major GOM Pipeline  El Paso Energy Partners, L.P. will build and operate the Cameron Highway Oil Pipeline System, a major new 380-mile oil pipeline in the Gulf of Mexico.  PanCanadian Drills Another Duster  PanCanadian drills its third duster offshore eastern Canada.  Tesco Awarded Algerian Drilling Contract  The Company has entered into an agreement with Steppe Forage, a major Algerian water well drilling contractor, to Ca! sing Drill(TM) six water wells in western Algeria.  BP Announces GOM Pipeline Construction Plans  BP announced plans for the construction of three large-diameter crude oil pipelines to transport oil from the company's major discoveries in the deepwater Gulf of Mexico.  Brunei Creates New State-Owned Oil Company  Brunei is set to play a bigger role in the global oil and gas scene under the newly established state-owned PetroleumBRUNEI.  Amerada Hess Resumes Production at Ceiba  Amerada Hess Corporation announced that the Ceiba Field offshore Equatorial Guinea resumed oil production in late January and is now flowing at rates in excess of 50,000 barrels of oil per day.  Amerada Hess To Reduce UK Workforc!   Amerada Hess will reduce its exploration and production staff based in the UK by approximately 15 precent.  Offshore Nigerian Field Confirmed  Three appraisal wells have confirmed the potential of a previously unknown offshore oil field in Nigeria.  Prosafe acquires the Polyconcord  Prosafe ASA has entered into an agreement with K/S Rasmussen Offshore A/S for the purchase of the semisubmersible accommodation and service rig Polyconcord.    [IMAGE]   [IMAGE]      Upcoming Oil & Gas Industry Events [IMAGE]      [IMAGE]     [IMAGE]  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 Mar. 17 Oil Field Chemistry Symposium - 13th International  Geilo Mar. 20 LNG North America  Houston Apr. 2 e-Business in the E?Industry - Targeting the Value  Houston Apr. 7 CORROSION/2002  Denver Apr. 9 2002 SPE/ICoTA ! Coiled Tubing Conference and Exhibition  Houston May. 6 Offshore Technology Conference 2002  Houston  list your conference  view upcoming events   [IMAGE]   [IMAGE]    [IMAGE]    [IMAGE] [IMAGE]  Click here to go to Baker Hughes  AADE  Global Completion Service  HoverDril  Ocean International   [IMAGE]   [IMAGE]   promote your company      [IMAGE] [IMAGE]  [IMAGE]  Liferaft Operation and Survival Practices  [IMAGE] [IMAGE]  Rotary Rig Safety Inspection Checklist   [IMAGE]  Shipboard Operations  [IMAGE]  [IMAGE]   [IMAGE]   more products   [IMAGE]      [IMAGE] [IMAGE]  featured equipment: West Africa Located Cooper LTO 750  [IMAGE]   Ambar Marine 26' Fast Rescue Boats  [IMAGE]   [IMAGE]   [IMAGE]   more equipment      [IMAGE] [IMAGE]   featured jobs: - Reliability Assurance Engineer  - Paramedic, Safety Rep  - Research Analyst   more hot jobs >>   featured candidates: - ! Senior Financial Manager  - Drilling and Completion, Workover Engineer/Consult  - Senior Well Supervisor   search for candidates >>   [IMAGE]   [IMAGE]     [IMAGE] [IMAGE]   Drillships:  To 5000': 57.1% (8/14) +5000': 96.0% (24/25)  Semisubs:  2nd Gen: 70.8% (51/72) 3rd Gen: 86.0% (43/50) 4th Gen: 100.0% (38/38) 5th Gen: 85.7% (6/7)  Jackups:  To 200': 55.2% (37/67) 200' MC: 50.0% (12/24) 200' MS: 14.3% (3/21) 300' IC: 90.6% (87/96) +300' IC: 94.4% (51/54) Severe Env.: 85.7% (18/2! 1)  [IMAGE]   [IMAGE]   view complete utilization report      [IMAGE] [IMAGE]  Light Crude Oil: ! $20.29/BBL  (-1.98%) Brent Crude Oil: $19.88/BBL  (-3.12%) Natural Gas: $2.37/MMBtu  (-2.47%) Unleaded Gasoline: $0.58/gal  (-1.69%) prices from: 2/20/2002 change since: 2/19/2002  [IMAGE]   [IMAGE]    [IMAGE] 	[IMAGE]		
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