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	Wednesday February 6, 2002	iOTC   			
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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]   Check it Out!  -  Free  -  Today Only!    Search and access Gulf of Mexico well permits and plans.  Pull current and historical data using area, date range, operator or water depth search criteria.  This $600 per year per license service is free to all Rigzone.com visitors today only, http://www.rigzone.com/data/permits/default.asp .   If you are an employer or a recruiter looking for qualified personnel,  Hire Away!  Today you have unlimited access to the Rigzone.com Career Center.  Search by residence location, experience and/or skill set categories to quickly and easily find and contact industry engineers, managers, technicians and rig hands. http://www.rigzone.com/jobs/recruiter.asp            Industry Headlines [IMAGE]      [IMAGE]     [IMAGE]  Unocal Secures OPIC Funds  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.   Lyondell to Sue PDVSA for Breach of Contract  Lyondell is seeking $90 million in compensation for a 30-million barrel shortfall in crude oil supply from PDVSA between April 1998 and September 2000.    [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]  Vanco Awarded Acreage Offshore Equatorial Guinea  Vanco Energy has been awarded a 10% interest in Block N offshore Equatorial Guinea.  Mission Makes Gulf of Mexico Discovery  Mission Resources Corporation announced its first discovery in 2002.  PTTEP's Arthit Drilling Program Successful  PTTEP has successfully completed its 14-well second drilling campaign for on its Arthit Field with great success.  PanCanadian Updates Buzzard Results   PanCandian's Buzzard 20/6-4 appraisal well flowed at aggregate rates of 11,100 barrels per day of light oil and 2.2 million cubic feet per day of natural gas.    [IMAGE]   [IMAGE]       Production [IMAGE]      [IMAGE]     [IMAGE]  Pioneer Replaces 208% of Production in 2001  Pioneer replaced 208% of production at a finding cost of $7.49 per BOE during 2001.  ExxonMobil Begins Production from Larut Field  Exxon Mobil Corporation has commenced production from the Larut field, the third new offshore Malaysia platform to come onstream in the past two months.  PetroChina and Shell Reach Agreement on Chinese Pipeline  PetroChina has reached an agreement with a Shell-led consortium to undertake a huge natural gas pipeline project in China.  MODEC Supplies World's Deepest TLP at the Marco Polo Field   El Paso Energy has awarded MODEC the contract to provide the engineering, procurement and construction of the hull, mooring and! production riser system for the world's deepest planned tension leg platform.    [IMAGE]   [IMAGE]       Company & Financial News [IMAGE]      [IMAGE]     [IMAGE]  Transocean Sedco Forex Announces 2001 Results  Transocean Sedco Forex Inc. reported a fourth-quarter profit after one-time charges pushed it to a loss in the same period of 2000.  Enterprise Inks Gas Marketing Deal with Innogy  Enterprise Oil plc and Innogy Plc have announced an outline agreement for a natural gas market alliance in North-West Europe.  Enterprise Outlines Business Strategy  Enterprise Oil's Chief Executive, Sam Laidlaw, has outlined his strategy for to move the company forward and create value for the investors.  PTTEP Plans 5 Year Investment Strategy PTTEP plans to spend approximately Baht 85.3 million over the next five years on exploration and development.    [IMAGE]   [IMAGE]       Last 7 Days Top Stories [IMAGE]      [IMAGE]     [IMAGE]  BP Could Cut Jobs in the North Sea  BP is considering cutting some of its 3,600 Aberdeen-based workforce in a bid to control rising costs.  Technip Coflexip Lands Brunei Development Project  Technip-Coflexip has recently been awarded a contract by Brunei Shell Petroleum Co. for its Egret Phase 1 Gas Development Project, offshore Brunei.  Anadarko Plans to Spend $2 Billion in 2002  Anadarko Petroleum C! orporation 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.  Amerada Hess Hits Offshore Equatorial Guinea  Amerada Hess Corporation reported that it has made another significant oil discovery offshore Equatorial Guinea in the Rio Muni Basin.  OPEC Expects To Increase Market Domination  OPEC's oil production and its domination of the oil market are expected to increase gradually over the next two decades, with the group's output rising to more than 50% of global oil demand by 2020, a recent OPEC study says.  Kvaerner and Aker Form Shipbuilding Company  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.  McMoRan Successful at Mound Point #2 Well  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.  Honeywell Lands Belanak Contract  Honeywell Industry Solutions has been selected as the automation supplier for the Belanak oil field development project in Indonesia.   Petro-Canada Acquires Veba Assets  Petro-Canada announced that it has agreed to acquire the international oil and gas operations of Veba Oil & Gas Gmbh from Veba and BP p.l.c. for a price of Cdn $3.2 billion in cash.   Murphy To Begin Drilling At Sepang ! Field Offshore Malaysia  Murphy Oil Corp. plans to begin drilling its first exploratory well in the Sepang field located offshore Sarawak Block SK 309 later this week.  Woodside Hits with Enfield-4 Appraisal Well   Woodside Petroleum Ltd said its Enfield-4 appraisal well offshore Western Australia had found oil.  Venezuelan Field Falls Short of Expectations  The consortium operating Venezuela's LL-652 field large fourth-quarter write-downs as the block continues to fall short of expectations.    [IMAGE]   [IMAGE]       Upcoming Oil & Gas Industry Events [IMAGE]      [IMAGE]     [IMAGE]  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. 17    Oil Field Chemistry Symposium - 13th International  Geilo Mar. 20    LNG North America  Houston Apr. 9     2002 SPE/ICoTA Coiled Tubing Conference and Exhibition  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]   prom! ote your company      [IMAGE] [IMAGE]  [IMAGE]  Oil and Gas Journal Databook, 2001 Ed.  [IMAGE] [IMAGE]  Energy Statistics Sourcebook, 14th Edition on CD-ROM  [IMAGE] [IMAGE]  Worldwide Petroleum Industry Outlook, 17th Edition  [IMAGE]  [IMAGE] [IMAGE]     more products   [IMAGE]      [IMAGE] [IMAGE]  featured equipment: Ideco H-35  DD Drive-in Rig   [IMAGE]   Derrick Shale Shaker  [IMAGE]   [IMAGE]   [IMAGE]   more equipment      [IMAGE] [IMAGE]   featured jobs:    - Service Supervisor, Cementing Services   Job Code 4735    - Offshore Safety Coordinator  - Emergency Response Coordinator/Deepwater   more hot jobs >>     featured candidates:    - Safety Trainer, Inspector and Administrator    - Highly Motivated, Multi Skilled Electrician    - Senior Project Engineer, Manager Oil & Gas     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:   97.4% (37/38) 5th Gen:   100.0% (7/7)  Jackups:  To 200':   53.7%  (36/67) 200' MC:   58.3% (14/24) 200' MS:   14.3% (3/21) 300' IC:   88.5% (85/96) +300' IC:   92.6% (50/54) Severe Env.:   90.5% (19/21)  [IMAGE]   [IMAGE]   view complete utilization report      [IMAGE] [IMAGE]  Light Crude Oil:  $20.07/BBL  (0.90%) Brent Crude Oil:  $19.57/BBL  (-1.16%) Natural Gas:  $2.07/MMBtu  (-! 1.43%) Unleaded Gasoline:  $0.58/gal  (0.00%) prices from:  2/5/2002 change since:  2/4/2002  [IMAGE]   [IMAGE]    [IMAGE] 	[IMAGE]		
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