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	Wednesday February 27, 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]       Nabors Industries  Buys  Enserco Energy Service Co.  Nabors Industries Inc. announced it will buy Enserco Energy Service Co. for more than $252 million.  Indonesia Urged By Foreign Oil Companies To Provide Incentives  Foreign oil companies on Tuesday urged Indonesia to provide more incentives in the oil and gas sector and further clarify complex laws to encourage! investment.     [IMAGE]   [IMAGE]       Exploration [IMAGE]      [IMAGE]     [IMAGE]  Shallow-Water Malaysia Development Announced by Murphy Oil  Murphy Oil Corporation is pleased to announce it has completed a three well exploration and appraisal drilling program offshore Sarawak, Malaysia.    [IMAGE]   [IMAGE]       Production [IMAGE]      [IMAGE]     [IMAGE]  Canadian Natural  Resources West Africa Test Well Comes In   Canadian Natural Resources Limited announces that its wholly owned subsidiary in Cote d'Ivoire, has successfully appraised the Baobab oil discovery in deepwater offshore block CI-40.   Two Statoil Wells Hit  Two wells! drilled by Statoil in the prolific North Sea Gullfaks field hit gas and condensate with the potential for commercial development.   Shortfall Has Egypt Seeking To Delay Paying Foreign Gas Producers  Egypt, facing a $2.5 billion current account shortfall since September 11, wants to delay payments to foreign companies producing gas for local consumption.    [IMAGE]   [IMAGE]       Company & Financial News [IMAGE]      [IMAGE]     [IMAGE]  Expro International Awarded Contract    Aberdeen-based Expro International Group said that it was awarded a contract by FMC Kongsberg to supply enhanced subsea landing strings for the Norwegian North Sea three-well Sigyn project.    China deal awared to Kvaerner  ! Norway's Kvaerner said that its Asia Pacific operations were awarded $12 million in contracts for the Panyu field development in the South China Sea.  Senior Management Positions Announced by ConocoPhillips  Phillips Petroleum Company and Conoco have named the initial members of the ConocoPhillips global management team that will take office after the completion of their proposed merger of equals.   Advanced Construction Equipment For Gas Pipeline Supplied by Marubeni  Marubeni Corporation will supply advanced construction machinery to OAO Stroytransgaz, Russian construction company that will use the equipment to complete a gas pipeline from Russia to Turkey.  SeaMetric's New Offshore Heavy Lift Concept  SeaMetric International AS has developed Twin Marine ! Lifter (TML), new concept for heavy lifts to be used offshore for the installation and removal of oil and gas facilities.     [IMAGE]   [IMAGE]       Last 7 Days Top Stories [IMAGE]      [IMAGE]     [IMAGE]  Offshore Liftboat Sinks in the Gulf of Mexico  Nineteen rig workers were rescued from the choppy waters off the Alabama coast as the wreckage of the liftboat floated nearby.  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 bankruptcy estate of Friede Goldman Halter, Inc.  BJ Services Acquires OSCA, Inc.  BJ Services Company has signed a definitive merger agreement to acquire OSCA, Inc. for $28.00 per share.  BP Renam! es 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.  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.  Perenco Hits Offshore Gabon  Perenco announces a new oil discovery named Ompoyi, offshore Gabon.  K2 Energy Corp. Announced Major Shallow Gas Pools to be Developed   K2 Energy Corp. announced reverse circulation drilling technology yielded gas flows 57% to 100% higher than rotary air drilled wells.   Ocean Rig's Cost for the Eirik Raude Goes Up  The most recent estimate show that the completion of the Eirik Raude  at the yard in Canada will result in increased costs compared to previous estimates.  PetroChina Interested in Husky Assets  PetroChina is considering a multi-billion dollar acquisition of the upstream business in Canada of Husky Energy Inc.  Helmerich/Payne Announces Spin Off  Helmerich & Payne Inc.will spin off its oil and gas production operations into a separate company named Cimarex Energy Co.  Statoil Sets Framework for Subsea Contracts  Statoil is to enter into frame agreements with FMC Kongsbery Subsea AS, ABB Offshore Systems and Kvaerner Oilfield Products for the delivery of subsea systems.  Pakistan and Iran Sign Pipeline MOU  Pakistan and Iran signed a memorandum of understanding to undertake a pre-feasibility study for a proposed 1,600-mile Iran-India gas pipeline.    [IMAGE]   [IMAGE]       Upcoming Oil & Gas Industry Events [IMAGE]      [IMAGE]     [IMAGE]  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 ExhibitionHoustonMay. 1     Nigeria Oil & Gas 2002  London May. 6     Offshore Technology Conference 2002  Houston Jun. 23    Ocean Mechanics and Arctic Engineering 2002  Oslo  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] Dredgers of the World - 3rd Ed  [IMAGE] [IMAGE]  Body in Motion: A Guide to Offshore and Maritime Employee Wellness and Safety  [IMAGE] [IMAGE]  Red Beans, Rice and Tabo! uli  [IMAGE]  [IMAGE]   [IMAGE]   more products   [IMAGE]      [IMAGE] [IMAGE]  featured equipment: Gardner Denver Rotary Table  [IMAGE]    Air Hoists  [IMAGE]   [IMAGE]   [IMAGE]   more equipment      [IMAGE] [IMAGE]   featured jobs:  - I?Technicians/ Overseas Offshore Platform  - Technical Sales       job code 4825  - Technical Sales       job code 4825   more hot jobs >>   featured candidates:  - Marketing Specialist  - Have Plane - Will Travel  - Electrical Engineer   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:   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)  [IMAGE]   [IMAGE]   view complete utilization report      [IMAGE] [IMAGE]  Light Crude Oil:  $21.57/BBL  (5.12%) Brent Crude Oil:  $20.92/BBL  (4.76%) Natural Gas:  $2.39/MMBtu  (4.28%) Unleaded Gasoline:  $0.58/gal  (2.76%) prices from:  2/26/2002 change since:  2/25/2002  [IMAGE]   [IMAGE]    [IMAGE] 	[IMAGE]		
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