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February 25, 2002	 <http://oad.realmedia.com/RealMedia/ads/click_nx.ads/UMUK_Rigzone.WeeklyNewsletter/THURAYA01_RIGWNMW02/102150216415210>		
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Current Oil and Gas Industry News
Top Stories for the Past 7 Days
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Industry Headlines	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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Ex-PDVSA President Speaks Out <http://www.rigzone.com/news/article.asp?a_id=2694>
The ex-president of PDVSA, retired General Guaicapuro Lameda said yesterday, " PDVSA should be run like a for profit business enterprise".

Petrobras To Appeal Court Ruling <http://www.rigzone.com/news/article.asp?a_id=2692>
Petrobras said it would appeal a $180 million court award to fishermen following a major oil in January 2000.

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Exploration	  <http:!>	
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Anson North-1 Well to Be Plugged and Abandoned  <http://www.rigzone.com/news/article.asp?a_id=2688>
Indo-Pacific reports that the Anson North-1 well in permit AC/P 26, offshore West Australia, is a duster.

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Production	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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Pemex To Increase Production Targets
Pemex increases domestic production targets for 2002.

Pakistan and Iran Sign Pipeline MOU <http://www.rigzone.com/news/article.asp?a_id=2690>
Pakistan and Iran signed a memorandum of understanding to undertake a pre-feasibility study for a proposed 1,600-mile Iran-India gas pipeline.

Vector To Begin Deliveries from Mustang Island Field <http://www.rigzone.com/news/article.asp?a_id=2687>
Vector Energy Corporation reports that all work on the pipeline from its Mustang Island Field has been completed and the pipeline is ready to commence deliveries.

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Company & Financial News	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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3TEC Announces 2001 Results <http://www.rigzone.com/news/article.asp?a_id=2693>
During 2001 3TEC Energy Corporation achieved record production levels in spite o! f a drilling program delayed due to low natural gas prices and high field-level costs.

PetroChina Downplays Acquisition Talks <http://www.rigzone.com/news/article.asp?a_id=2689>
PetroChina is downplaying the acquisition talks by describing them as insubstantial.

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Last 7 Days Top Stories	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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Hydralift Acquires AmClyde <http://www.rigzone.com/news/article.asp?a_id=2654>
Hydralift ASA has entered into a contract to acquire substantially all of the assets and activities of AmClyde Engineered Products Company, Inc. from the bankruptcy estate of Friede Goldman Halter, Inc.

Offshore Liftboat Sinks in the Gulf of Mexico <http://www.rigzone.com/news/article.asp?a_id=2664>
Nineteen rig workers were rescued from the choppy waters off the Alabama coast as the wreckage of the liftboat floated nearby.

Russian Environmentalists Seeking Sakhalin Drilling Ban <http://www.rigzone.com!>
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.

BP Renames Gulf of Mexico Discovery <http://www.rigzone.com/news/article.asp?a_id=2674>
BP announced it has retired the name Crazy Horse, and has re-named its major Gulf of Mexico discovery Thunder Horse.

Tesco Awarded Algerian Drilling Contract <http://www.rigzone.com/news/article.asp?a_id=2645>
The Company has entered into an agreement with Steppe Forage, a major Algerian water well drilling contractor, to Casing Drill(TM) six water wells in western Algeria.

BJ Services Acquires OSCA, Inc. <http://www.rigzone.com/news/article.asp?a_id=2667>
BJ Services Company has signed a definitive merger agreement to acquire OSCA, Inc. for $28.00 per share.

Bollinger Shipyards to Build Three Supply/Utility Boats
Bollinger Shipyards has signed a contract to build three 145 foot supply/utility boats with Edison Chouest Offshore.

BP Announces GOM Pipeline Construction Plans <http://www.rigzone.com/news/article.asp?a_id=2653>
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.

Amerada Hess To Reduce UK Workforce <http://www.rigzone.com/news/article.asp?a_id=2635>
Amerada Hess will reduce its exploration and production staff based in the UK by approximately 15 precent.

Offshore Nigerian Field Confirmed <http://www.rigzone.com/news/article.asp?a_id=2640>
Three appraisal wells have confirmed the potential of a previously unknown offshore oil field in Nigeria.

FMC Energy Inks Deal with Norsk Hydro <http://www.rigzone.!>
FMC Energy Systems business has signed a total vendor management frame agreement with Norsk Hydro through 2009.

PetroChina Interested in Husky Assets <http://www.rigzone.com/news/article.asp?a_id=2661>
PetroChina is considering a multi-billion dollar acquisition of the upstream business in Canada of Husky Energy Inc.

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Upcoming Oil & Gas Industry Events	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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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/even!>	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. 7	CORROSION/2002 <http://www.rigzone.com/news/event_detail.asp?event_id=254>	Denver	
Apr. 9	2002 SPE/ICoTA Coiled Tubing Conference and Exhibition <http://www.rigzone.com/news/event_detail.asp?event_id=41>	Houston	
May. 1	Nigeria Oil & Gas 2002 <http://www.rigzone.com/news/event_detail.asp?event_id=256>	London	
list your conference <http://www.rigzone.com/news/post_event.asp?action=INSERT>	view upcoming events <http://www.rigzone.com/news/event_home.asp>	
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Pipe Line Corrosion and Cathodic Protection, 3rd Ed. <http://www.rigzone.com/store/product.asp?p_id=284>	
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52 IADC Safety Topics and Records <http://www.rigzone.com/store/product.asp?p_id=342>	
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Fundamentals of Petroleum, 4th Ed. <http://www.rigzone.com/store/product.asp?p_id=364>	
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National 1320-M <http://www.rigzone.com/market/surplus_listing.asp?eq_id=412>	
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BOP Closing Units <http://www.rigzone.com/market/surplus_listing.asp?eq_id=354>	
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  <http://www.rigzone.com/images/spacer.gif>	fe! atured jobs:	
-	Project Electrical Engineer <http://www.rigzone.com/jobs/job_posting.asp?p_id=1074>	
-	Reliability Assurance Engineer <http://www.rigzone.com/jobs/job_posting.asp?p_id=1073>	
-	Dynamic Positioning,Instrumentation, and Control Systems Engineer <http://www.rigzone.com/jobs/job_posting.asp?p_id=1070>	
more hot jobs >> <http://www.rigzone.com/jobs/hot_jobs.asp>	
featured candidates:	
-	HSE Advisor <http://www.rigzone.com/jobs/resume.asp?r_id=7047>	
-	Drilling Superintendent - Land/Offshore	
-	Wellsite Geologist & Mudlogger <http://www.rigzone.com/jobs/resume.asp?r_id=9081>	
search for candidates >> <http://www.rigzone.com/jobs/search_resume.asp>	
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  <http://www.rigzone.com/images/email/title_tab_RigUtil.gif>	
  <http://www.rigzone.com/i!>	Drillships:	
To 5000':	57.1%	(8/14)	
+5000':	96.0%	(24/25)	
Semisubs:	
2nd Gen:	70.8%	(51/72)	
3rd Gen:	82.0%	(41/50)	
4th Gen:	97.4%	(37/38)	
5th Gen:	85.7%	(6/7)	
Jackups:	
To 200':	55.2%	(37/67)	
200' MC:	41.7%	(10/24)	
200' MS:	14.3%	(3/21)	
300' IC:	90.6%	(87/96)	
+300' IC:	94.4%	(51/54)	
Severe Env.:	85.7%	(18/21)	
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view complete utilization report <http://www.rigzone.com/data/utilization_trends.asp>	

  <http://www.rigzone.com/images/email/title_tab_OilPrices.gif>	
  <http://www.rigzone.com/images/spacer.gif>	Light Crude Oil:	$21.07/BBL 
(0.81%)	
Brent Crude Oil:	$20.35/BBL 
(0.00%)	
Natural Gas:	$2.45/MMBtu 
(0.41%)	
Unleaded Gasoline:	$0.59/gal 
(1.72%)	
prices from:	2/22/2002	
change since:	2/21/2002	
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