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	Friday
February 8, 2002	iOTC <http://www.iotcnet.org> 		
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Current Oil and Gas Industry News
T! op Stories for the Past 7 Days
Featured Events and Conferences
What's in Store - Books & More

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Surplus Oilfield Equipment For Sale
Worldwide Offshore Rig Utilization
Oil & Gas Prices

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Industry Headlines	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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OPEC Still Needs Support of Non-OPEC Countries <http://www.rigzone.com/news/article.asp?a_id=2583>
OPEC continues to need the support of non-OPEC countries to shore up world oil prices.

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Exploration	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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Alaska Announces 5-Year Oil & Gas Leasing Program <http://www.rigzone.com/news/article.asp?a_id=2578>
Between now and 2006, Alaska is proposing t! o hold five sales each in the Cook Inlet, Beaufort Sea, North Slope, and North Slope Foothills areas.

Magnum Hunter Outlines Plans for Gulf of Mexico Exploration <http://www.rigzone.com/news/article.asp?a_id=2574>
The Company has made plans to participate in a minimum of seven exploration wells in the GOM during 2002.

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Production	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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Petrobras' Output Increases in 2001 <http://www.rigzone.com/news/article.asp?a_id=2581>
Petrobras reported its daily average oil output in 2001 rose to 1.38 million barrels from 1.32 million in 2000 despite the loss of the P-36.

Conoco Replaces 432 Percent of Production in 2001 <http://www.rigzone.com/news/article.asp?a_id=2579>
Conoco added more than 1.2 billion barrels of oil equivalent, including syncrude, to the company's worldwide proved reserves in 2001.FMC Awarded Devils Tower and Medusa Work <http://www.rigzone.com/news/article.asp?a_id=2577>
FMC Energy Systems has been chosen by Mentor Subsea to provide the wellhead trees and associated services for the Devils Tower Spar and the Medusa Spar projects in the Gulf of Mexico.

Kvaerner Awarded $100 Million Kristin Project <http://www.rigzone.com/news/article.asp?a_id=2576>
Kvaerner has received a Letter of Intent to provide equipment for ten subsea wells, production controls, and support structures for the Kristin field on the Norwegian shelf.

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Company & Financial News	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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McMoRan Sells Main Pass 299 Facilities to OFS <http://www.rigzone.com/news/article.asp?a_id=2582>
McMoRan Exploration Co. has made an agreement to convey all of FSC's rights, title and interest in its Main Pass 299 sulphur a! nd oil and gas leases and facilities to Offshore Specialty Fabricators, Inc. 

Woodside Awards Offshore Trunkline Project to Saipem <http://www.rigzone.com/news/article.asp?a_id=2580>
The North West Shelf Venture has awarded an offshore installation contract for the second gas supply trunkline to Saipem Comercio Maritimo.

PGS Awarded $33 Million in New Contracts <http://www.rigzone.com/news/article.asp?a_id=2575>
Petroleum Geo-Services ASA announced that its Seafloor Seismic division has secured new four-component (4C) seismic acquisition contracts valued at $33 million in offshore Nigeria, Norway's North Sea sector and the West of Shetlands area in the North Atlantic.

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advertisement	
Mark your calender! On Wednesday, February 6th, access to Rigzone's premium Gulf of Mexico Drilling Permit and Plans database will be open to all rigzone members and website visitors. Additionally, HR managers and Industry recruiters will have unlimited free access to the Rigzone Career Center. Take a test drive, we think you will like what you find. 	

	

Last 7 Days Top Stories	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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Anadarko Plans to Spend $2 Billion in 2002 <http://www.rigzone.com/n! ews/article.asp?a_id=2526>
Anadarko Petroleum Corporation said that its board of directors has approved an initial capital spending budget of $2 billion for 2002 this is down from the $3.3 billion approved for 2001.

Varco Revenue Up 46% <http://www.rigzone.com/news/article.asp?a_id=2531>
Varco's net income in 2001 more than doubled that of 2000.

Kvaerner and Aker Form Shipbuilding Company <http://www.rigzone.com/news/article.asp?a_id=2545>
Kvaerner and Aker RGI will establish a jointly owned shipbuilding management company. Together, the two groups own 12 shipyards in Europe, and one in the USA and Brazil.

Vanco Awarded Acreage Offshore Equatorial Guinea <http://www.rigzone.com/news/article.asp?a_id=2563>
Vanco Energy has been awarded a 10% interest in Block N offshore Equatorial Guinea.

West Navion Experiences More Delays <http://www.rigzone.com/news/article.asp?a_id=2540>
Operations on the drill ship, West Navion, offshore Canada continues to be suspended, due to repair work on the main sheaves in the RamRig derrick.

McMoRan Successful at Mound Point #2 Well <http://www.rigzone.com/news/article.asp?a_id=2528>
This well confirms McMoRan's exploration concept for the Mound Point area which is one of the largest geologic structures in the shallow waters offshore Louisiana.

CNR Turns On the Tap At Espoir Field Offshore Cote d'Ivoire <http://www.rigzone.com/news/article.asp?a_id=2573>
Canadian Natural Resources Limited announces that oil production from the Espoir Field, offshore Cote d'Ivoire, Africa, commenced on February 4, 2002 at 8,500 barrels per day.

Kuwaiti Oil Minister Offers to Step Down <http://www.rigzone.com/news/article.asp?a_id=2547>
Kuwaiti members of parliament have called for the resignation of the entire govern! ment following last week's explosion at an oil plant where four workers were killed and sixteen were injured.

Unocal Secures OPIC Funds <http://www.rigzone.com/news/article.asp?a_id=2558>
OPIC will be providing support of up to $350 million in OPIC financing for two of Unocal's offshore oil and natural gas projects in Indonesia. 

PDVSA Begins 3 Year Offshore Exploration Program <http://www.rigzone.com/news/article.asp?a_id=2569>
PDVSA's justlaunched a three-year, $375 million offshore natural gas exploration program in the Atlantic near the Deltana platform area.

Transocean Sedco Forex Announces 2001 Results <http://www.rigzone.com/news/article.asp?a_id=2559>
Transocean Sedco Forex Inc. reported a fourth-quarter profit after one-time charges pushed it to a loss in the same period of 2000.

Gulf Marine Wins Matterhorn TLP Topsides Project <http://www.rigzone.com/news/article.asp?a_id=2519>! 
Technip-Coflexip Group announced that Atlantia Offshore Limited has awarded Gulf Marine Fabricators a fabrication contract for the Matterhorn dry-tree TLP topsides facility and foundation piles.

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Feb. 10 	2002 SPE International Petroleum Conference & Exhibition in Mexico <http://www.rigzone.com/news/event_detail.asp?event_id=35>	Villahermosa	
Feb. 26 	2002 IADC/SPE Drilling Conference and Exhibition  <http://www.rigzone.com/news/event_detail.asp?event_id=37>	Dallas	
Feb. 26 	Offshore Oil and Gas Safety Seminars <http://www.rigzone.com/news/event_detail.asp?event_id=214>	Aberdeen	
Feb. 27 	Human Resources in Oil & Gas <http://www.rigzone.com/news/event_detail.asp?event_id=194>	Aberdeen	
Mar. 10 	AAPG Annual Meeting <http://www.rigzone.com/news/event_detail.asp?event_id=21>	Houston	
Mar. 17 	Oil Field Chemistry Symposium - 13th International <http://www.rigzone.com/news/event_detail.asp?event_id=224>	Geilo	
Mar. 20 	LNG North America <http://www.rigzone.com/news/event_detail.asp?event_id=201>	Houston	
Apr. 2 	e-Business in the E&P Industry - Targeting the Value <http://www.rigzone.com/news/event_detail.asp?event_id=228>	Houston	
Apr. 9 	2002 SPE/ICoTA Coiled Tubing Conference and Exhibition <http://www.rigzone.com/news/event_detail.asp?event_id=41>	Houston	
May. 6 	Offshore Technology Conference 2002 <http://www.rigzone.com/news/event_detail.asp! ?event_id=31>	Houston	
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Ambar Marine 26' Fast Rescue Boats <http://www.rigzone.com/market/surplus_listing.asp?eq_id=419>	
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West Africa Located Cooper LTO 750 <http://www.rigzone.com/market/surplus_listing.asp?eq_id=100>	
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-	Mechanic <http://www.rigzone.com/jobs/job_posting.asp?p_id=978>	
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more hot jobs >> <http://www.rigzone.com/jobs/hot_jobs.asp>	
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-	Offshore Deepwater Engineering Resource <http://www.rigzone.com/jobs/resume.asp?r_id=10412>	
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  <http://www.rigzone.com/images/spacer.gif>	Drillships:	
To 5000': 	57.1%	(8/14)	
+5000': 	96.0%	(24/25)	
Semisubs:	
2nd Gen: 	69.9%	(51/73)	
3rd Gen: 	84.0%	(42/50)	
4th Gen: 	97.4%	(37/38)	
5th Gen: 	85.7%	(6/7)	
Jackups:	
To 200': 	53.7%	(36/67)	
200' MC: 	50.0%	(12/24)	
200' MS: 	14.3%	(3/21)	
300' IC: 	88.5%	(85/96)	
+300' IC: 	94.4%	(51/54)	
Severe Env.: 	90.5%	(19/21)	
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view complete utilization report <http://www.rigzone.com/data/utilization_trends.asp>	

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  <http://www.rigzone.com/images/spacer.gif>	Light Crude Oil: 	$19.65/BBL 
(-0.15%)	
Brent Crude Oil: 	$19.22/BBL 
(-0.26%)	
Natural Gas: 	$2.15/MMBtu 
(2.38%)	
Unleaded Gasoline: 	$0.57/gal 
(0.00%)	
prices from: 	2/7/2002	
change since: 	2/6/2002	
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