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	Monday January 28, 2002	[IMAGE]   			
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[IMAGE]		      [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 Worldwide Offshore Rig Utilization Oil & Gas Prices    [IMAGE]   [IMAGE]       Industry Headlines [IMAGE]      [IMAGE]       OPEC Over Quota in December  OPEC's 10 members with output quotas cut 23,000 barrels bpd from their production in December to 23.65 million bpd.  TotalFinaElf and Yukos Form Partnership  TotalFinaElf has formed a 50/50 joint venture with Russia's Yukos to explore and develop the Shatsky area in the Black Sea.    [IMAGE]   [IMAGE]  advertisement  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 information:   http://www.rigzone.com/market/surplus_listing.asp?eq_id=397            Exploration [IMAGE]      [IMAGE]     [IMAGE]  Iran Puts South Pars Up For Bid  Iran has put the offshore South Pars oilfield back up for bidding and intends to reveal the winning investor this spring.    [IMAGE]   [IMAGE]       Production [IMAGE]      [IMAGE]     [IMAGE]  Langsa Field Well Back Production  The Matrix Oil  L1 well has been placed back on production.  The well was taken off production in December due to a glycol leak.  Heimdal and Huldra Back Onstream  The Heimdal gas center resumed its production and processing of natural gas from the Huldra field Jan. 24, after a forced shut down due to control system problems on Jan. 21.  Statfjord C Back on Stream  Production from Statoil's Statfjord C platform, shut! down for four days, was resumed early yesterday evening, January 24th.   Terra Nova Starts Producing  Petro-Canada reports that the Terra Nova field offshore Newfoundland continues to improve on its daily production numbers.    [IMAGE]   [IMAGE]       Company & Financial News [IMAGE]      [IMAGE]     [IMAGE]  Halliburton in Norway Achieves ISO 14001  Halliburtonannounces that the Shared Services Operations and the Production Enhancement product service line of its subsidiary Halliburton AS in Norway have been awarded the ISO 14001 accreditation.  PanCanadian in Merger Talks  PanCanadian and Alberta Energy are in discussions regarding the possible merger of the two companies.  Goodrich Sells Partial Interest in GOM Assets  Goodrich has agreed to sell a portion of its interest in its Burrwood and West Delta 83 fields for $12 million.      [IMAGE]   [IMAGE]       Last 7 Days Top Stories [IMAGE]      [IMAGE]     [IMAGE]  Drilling Operations 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 derrick.  Pemex Increases Exploration Spending in 2002  Pemex plans to concentrate spending on explortion and production projects in 2002.  Kerr-McGee Sells Ecuadorian Assets  Kerr-McGee has agreed to sell two oil lease concessions and its! stake in a pipeline project in Ecuador to Perenco.  CNOOC Acquires Repsol-YPF's Indonesian Assets  CNOOC has acquired Repsol-YPF's Indonesian assets for US $585 million in cash.  This acquisition will make CNOOC the largest offsohre oil producer in Indonesia.  Kvaerner Awarded  Escravos FEED Contract  Kvaerner has been awarded the FEED work for the Escravos Gas Project Phase 3 by NNPC/Chevron.  Court Rules on Offshore Injury Case  United States Fifth Circuit Court of Appeals decides that wireline perforation used in drilling and capping wells is not "ultrahazardous".  Transocean Puts Two Rigs Back to Work  Transocean Sedco Forex Inc. has been awarded contracts for two high-specificat! ion floating drilling rigs and has received a contract extension on a third high-specification floating drilling rig.   Conoco Sets Budget for 2002  Conoco to spend the majority of its $2.8 billion dollar budget on upstream operations in 2002.  Marathon Makes Discovery in Alaska  Marathon oil has made a significant discovery on its Ninilchik Prospect located approximately 35 miles south of Kenai, Alaska.  CNOOC Announces 2002 Strategy   In 2002, CNOOC will continue to focus on growing production, executing development plans and adding reserves through exploration.  Bouygues/Saipem Awarded Algerian Contract  Sonatrach has awarded a joint venture of Saipem and Bouygues a $257 million oilfield development project in Algeria.  Westcoast Energy Reaches Milestone in Mexico  Westcoast Energy announced has reached a major milestone in the development of the Campeche Natural Gas Compression Services Project in Mexico.    [IMAGE]   [IMAGE]       Upcoming Oil & Gas Industry Events [IMAGE]      [IMAGE]     [IMAGE]  Jan. 29    NAPE Expo 2002  Houston Feb. 6     Torch Mid-Winter Energy Conference  New York Feb. 7     Marine Construction 2002  Houston Feb. 10    2002 SPE International Petroleum Conference & Exhibition in Mexico  Villahermosa 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. 20    LNG North America  Houston Apr. 9     2002 SPE/ICoTA Coiled Tubing Conference and Exhibition  Houston  list y! our conference  view upcoming events   [IMAGE]   [IMAGE]    [IMAGE]    [IMAGE] [IMAGE]  Horizon Offshore  Global Completion Service  HoverDril  Baker Hughes   [IMAGE]   [IMAGE]   promote your company      [IMAGE] [IMAGE]  [IMAGE]  Offshore Field Development Guide - The Americas  [IMAGE] [IMAGE]   Mapper 1.3  [IMAGE] [IMAGE]  Offshore Field Development Guide - The Americas  [IMAGE]  [IMAGE]   [IMAGE]   more products   [IMAGE]      [IMAGE] [IMAGE]  featured equipment: Ambar Marine 26' Fast Rescue Boats  [IMAGE]   West Africa Located Cooper LTO 750  [IMAGE]   [IMAGE]   [IMAGE]   more equipment      [IMAGE] [IMAGE]   featured jobs:  - Naval Architect  - ! Technical Director   - Structural Engineer   more hot jobs >>   featured candidates:  - Slickline Supervisor (Multi-Disciplined)  - Wireline Supervisor D32/33 assessor, Well services  - Structural Offshore Engineer   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 Gen:   100.0% (38/38) 5th Gen:   100.0% (7/7)  Jackups:  To 200':   58.2%  (39/67) 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]   [IMAGE]   view complete utilization report      [IMAGE] [IMAGE]  Light Crude Oil:  $19.40/BBL  (-1.62%) Brent Crude Oil:  $19.99/BBL  (4.44%) Natural Gas:  $2.03/MMBtu  (0.50%) Unleaded Gasoline:  $0.58/gal  (1.75%) prices from:  1/25/2002 change since:  1/24/2002  [IMAGE]   [IMAGE]    [IMAGE] 	[IMAGE]		
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