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	Friday
March 15, 2002	 <http://www.sgievent.com/upstream/> 		
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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

Featured Employment Opportunities
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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Rowan Gorilla V Contract Dispute is Resolved <http://www.rigzone.com/news/article.asp?a_id=2844>
Rowan Companies, Inc. reported that an agreement has been reached to resolve a dispute over the Rowan Gorilla V contract.

BG Resolves Operatorship Dispute <http://www.rigzone.com/news/article.asp?a_id=2838>
BG Group has resolved the operatorship dispute with its Indian partners over the Panna, Mukta and Tapti offshore fields.

PDVSA Considers Settlement Agreement with Employees <http://www.rigzone.com/news! /article.asp?a_id=2836>
Top executives at PDVSA are considering a solution that would bring a close to the work disruptions caused by the election of a new board of directors and a new company president.

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Landmark Graphics Releases SpecDecomp 

Landmark Graphics Corporation has released SpecDecomp(TM), a new, innovative reservoir imaging and interpretation technology solution. SpecDecomp provides greater resolution of reservoir boundaries, heterogeneities and thickness than previously possible with traditional b! roadband seismic displays. For more information click here <http://www.rigzone.com/news/article.asp?a_id=2805>.

	

Exploration	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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Agip to Begin Exploration of Second Block in the Caspian Sea <http://www.rigzone.com/news/article.asp?a_id=2845>
An Agip-led consortium led said it would begin exploratory drilling of another offshore block in the Caspian Sea.

Indian Government Invites Bids for NELP III <http://www.rigzone.com/news/article.asp?a_id=2842>
The Petroleum Ministry is set to invite bids for its third round of the National Exploration Licensing Policy (NELP III).

Occidental To Invest in Pakistan's Oil Sector <http://www.rigzone.com/news/article.asp?a_id=2841>
Occidental Petroleum Corp. will invest $150 million in Pakistan's petroleum sector.

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Production	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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Oil Majors Sign Caspian Pipeline Deal with Georgia <http://www.rigzone.com/news/article.asp?a_id=2843>
A BP-led consortium signed a Host Government Agreement with Georgia, the last govrenment agreement needed, for the launch of the first phase of the Caspian export pipeline.

Ormen Lange Development Moving Forward <http://www.rigzone.com/news/article.asp?a_id=2839>
Norsk Hydro is considering onshore treatment for the natural gas from the Ormen Lange field at a nearby facility in Nyhamn.

Shearwater Still Offline <http://www.rigzone.com/news/article.asp?a_id=2837>
The Shearwater natural gas field located in the UK sector of the North Sea is still offline after it was shutdown Tuesday for routine inspection.

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Company & Financial News	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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AEC and PanCanadian Merger on Track <http://www.rigzone.com/news/article.asp?a_id=! 2840>
PanCanadian Energy Corporation and Alberta Energy Company announced that they have received a 'no action' letter from the Competition Bureau of Canada with respect to their proposed merger.

Duke Energy Completes Westcoast Energy Acquisition  <http://www.rigzone.com/news/article.asp?a_id=2835>
Duke Energy completes the acquisition of Westcoast Energy for US $8 billion.

Shareholders from Magnum Hunter and Prize Energy Approve Merger <http://www.rigzone.com/news/article.asp?a_id=2834>
Shareholders of both Magnum Hunter and Prize Energy overwhelmingly approved the merger of the two companies.

Baker Invests in Energy Virtual Partners  <http://www.rigzone.com/news/article.asp?a_id=2833>
Michael Baker Corporation has made a $1.0 million investment in Energy Virtual Partners, Inc.

	

Last 7 Days Top Stories	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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Parker Drilling Awarded Sakhalin Drilling Project <http://www.rigzone.com/news/article.asp?a_id=2785>
Parker Drilling Company has been awarded new contracts to build and operate a rig to drill extended reach wells to offshore targets from a land-based location on Sakhalin Island, Russia.

PDVSA Employees Increase Protests <http://www.rigzone.com/news/article.asp?a_id=2793>
Dissident employees of PDVSA decided to intensify their campaign in protest of recnet senior management changes.

Talisman Hits Offshore Trinidad <http://www.rigzone.com/news/article.asp?a_id=2786>
Talisman Energy Inc. has announced its Kairi-2 appraisal well in Trinidad has tested oil.

Aker Kvaerner Launches New Company <http://www.rigzone.com/news/article.asp?a_id=2806>
Today, Kvaerner launched a new company to be known as 'Aker Kvaerner' which w! ill supply products, services, technology and solutions to the global oil and gas industry.

Tartan Commences 170 Well Drilling Program in California <http://www.rigzone.com/news/article.asp?a_id=2826>
Tartan Energy Inc. announces a 170 development well, shallow reserve drilling program to commence in April 2002.

Weatherford Achieves Milestone <http://www.rigzone.com/news/article.asp?a_id=2789>
Weatherford's Completion Systems division has successfully deployed its first Expandable Liner Hanger in YPF Maxus' Cinta E-11 well offshore Indonesia.

Newfield Hits in Gulf of Mexico <http://www.rigzone.com/news/article.asp?a_id=2803>
Newfield has made two discoveries in the Gulf of Mexico and expects production from these discoveries to commence by the end of this year.

Trinidad & Tobago Government Wants to Increase Royalties <http://www.rigzone.com/news/article.asp?a_id=2799>
The Trinidad! and Tobago government wants to renegotiate an increase in gas royalties with BP which would dramatically increase state revenues.

SA Five Engineering Wins Upgrade Contract <http://www.rigzone.com/news/article.asp?a_id=2792>
Bluewater Energy Services B.V. has awarded a contract to SA Five Engineering for the upgrade of the FPSO Glas Dowr.

Ensco 7500 Will Experience Downtime During 1Q 2002 <http://www.rigzone.com/news/article.asp?a_id=2814>
The semisub, Ensco 7500, will spend approximately 30 days in the shipyard during the 1st quarter of 2002 for repairs to her hull.

BHP Awards Contract for Angostura Development <http://www.rigzone.com/news/article.asp?a_id=2816>
BHP awards CSO Aker Engineering the FEED contract for development of its Angostura project offshore Trinidad.

DONG To Bring Two Fields Onstream in 2003 <http://www.rigzone.com/news/article.asp?a_id=2788>
Two new oil field! s in the Danish part of the North Sea, Nini and Cecilie, are expected to go on stream in the summer of 2003.

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The SGI Energy Summit 2002 - Visualizing the Future
 <http://www.sgievent.com/upstream/> Hear what leaders of top corporations, crucial software providers, and key policy makers have to say about the impact of advanced technology on the future of our industry. This summit promises to fish for all the critical answers to this industry's future success. To learn more, click here! <http://www.sgievent.com/upstream/>	

	

Upcoming Oil & Gas Industry Events	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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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. 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	
May. 6 	Offshore Technology Conference 2002 <http://www.rigzone.com/news/event_detail.asp?event_id=31>	Houston	
May. 21 	Oil and Gas in the Gulf of Guinea <http://www.rigzone.com/news/event_detail.asp?event_id=263>	London	
Jun. 23 	Ocean Mechanics and Arctic Engineering 2002 <http://www.rigzone.com/news/event_detail.asp?event_id=219>	Oslo	
Aug. 27 	ONS 2002 Conference and Exhibition <http://www.rigzone.com/news/event_detail.asp?event_id=80>	Stavanger	
list your conference <http://www.rigzone.com/news/post_event.asp?action=INS! ERT>	view upcoming events <http://www.rigzone.com/news/event_home.asp>	
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4 1/2-inch 19.2 Lbs Pipe <http://www.rigzone.com/market/surplus_listing.asp?eq_id=438>	
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Dreco 1000 UE Land Rigs <http://www.rigzone.com/market/surplus_listing.asp?eq_id=399>	
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-	Drilling and Completions Operations Specialist <http://www.rigzone.com/jobs/job_posting.asp?p_id=1099>	
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more hot jobs >> <http://www.rigzone.com/jobs/hot_jobs.asp>	
featured candidates: 	
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-	Dynamic Positioning Operator <http://www.rigzone.com/jobs/resume.asp?r_id=11498>	
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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: 	66.7%	(48/72)	
3rd Gen: 	82.0%	(41/50)	
4th Gen: 	94.7%	! (36/38)	
5th Gen: 	85.7%	(6/7)	
Jackups:	
To 200': 	56.1%	(37/66)	
200' MC: 	45.8%	(11/24)	
200' MS: 	19.0%	(4/21)	
300' IC: 	89.6%	(86/96)	
+300' IC: 	94.4%	(51/54)	
Severe Env.: 	85.7%	(18/21)	
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view complete utilizat! ion report <http://www.rigzone.com/data/utilization_trends.asp>	

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  <http://www.rigzone.com/images/spacer.gif>	Light Crude Oil: 	$24.63/BBL 
(2.03%)	
Brent Crude Oil: 	$24.06/BBL 
(0.71%)	
Natural Gas: 	$2.99/MMBtu 
(6.79%)	
Unleaded Gasoline: 	$0.80/gal 
(1.27%)	
prices from: 	3/14/2002	
change since: 	3/13/2002	
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