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	Thursday January 31, 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 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.  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.    [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]  Guyana and Suriname Discuss Exploration Project  The leaders of Guyana and Suriname are discussing a joint venture for oil and gas exploration.  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.  Pertamina Bidding for Devon Indonesia Assets  Pertamina is ready to submit a bid to acquire Devon Energy's local assets.    [IMAGE]   [IMAGE]       Production [IMAGE]      [IMAGE]     [IMAGE]  ExxonMobil Inks Deal To Supply Qatari Gas  ExxonMobil Middle East Gas Marketing Limited, the Kuwait Petroleum Corporation and Qatar Petroleum have outlined key co! mmercial terms for the sale of Qatari Gas to Kuwait.  Statoil Buys Polish LPG Company  Statoil's subsidiary Statoil Polska has bought the Polish LPG company Duwe Gaz.    [IMAGE]   [IMAGE]       Company & Financial News [IMAGE]      [IMAGE]     [IMAGE]  BP and E.ON Go Ahead with Veba Deal  BP announced that it has agreed with E.ON to go ahead with its plan to acquire a majority stake in Veba Oil with effect from February 1.   PGS and BP Form Alliance  Petroleum Geo-Services announced that its Data Processing division, in close cooperation with its Research division, has secured a Geophysical Technology Alliance with BP through the Gulf of Suez Petroleum Company (GUPCO).  Honeywell Lands Belanak Contract  Honeywell Industry Solutions has been selected as the automation supplier for the Belanak oil field development project in Indonesia.     [IMAGE]   [IMAGE]  advertisement  Mark your calender!  On  Wednesday, February 6th, access to Rigzone's  premium Gulf of Mexico Drilling Permit and Plans database will be open to all rigzone members and website visitors.  Additionally, HR managers and Industry recruiters will have unlimited free access to the Rigzone Career Center.  Take a test drive, we think you will like what you find.           Last 7 Days Top Stories [IMAGE]      [IMAGE]     [IMAGE]  Kvaerner Awarded  Escravos FEED Contract  Kvaerner has been awarded the FEED work for the Escravos Gas Project Phase 3 by NNPC/Chevron.  Conoco Sets Budget for 2002  Conoco to spend the majority of its $2.8 billion dollar budget on upstream operations in 2002.  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".  Kvaerner To Open New Umbilicals Facility  Kvaerner has decided to invest NOK 100 million in a new umbilicals production facility for the subsea segment of the oil and gas industry in the Gulf of Mexico or Houston area.  AEC and! PanCanadian Confirms Merger Plans  Alberta Energy Company and PanCanadian join forces in a "merger of equals" that will create one of North America's largest independent energy companies.  Marathon Makes Discovery in Alaska  Marathon oil has made a significant discovery on its Ninilchik Prospect located approximately 35 miles south of Kenai, Alaska.  Trident Appraisal Well Successful  Unocal Corporation said that it continues to be encouraged after successfully completing the first appraisal well at the Trident deepwater Gulf of Mexico discovery in Alaminos Canyon Block 903.  Nabors Industries Has Record Year  Nabors Industries Inc. said its fourth-quarter earnings rose slightly even though North American natural gas drilling slowed down as a res! ult of lower gas prices.   Meridian Acquires Additional Acreage in Louisiana  The Meridian Resource Corporation recently closed on the purchase of a major land rights position covering over 190,000 acres located in the Company's focus area of south Louisiana.  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.   Unocal Replaces 222% of 2001 Production  Unocal Corporation said it replaced 222 percent of its worldwide crude oil and natural gas production during 2001 with new proved reserves.  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.    [IMAGE]   [IMAGE]       Upcoming Oil & Gas Industry Events [IMAGE]     [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. 20    LNG North America  Houston    Apr. 9     2002 SPE/ICoTA Coiled Tubing Conference and Exhibition  Houston    May. 6     Offshore Technology Conference 2002  Houston     list your conference  view upcoming events     [IMAGE]    [IMAGE]    [IMAGE] [IMAGE]  Baker Hughes  AADE  Horizon Offshore  Global Completion Service  HoverDril   [IMAGE]   [IMAGE]   promote your company      [IMAGE] [IMAGE]  [IMAGE]  Offshore - Oil Employment Package  [IMAGE] [IMAGE]  South East Asia Oil and Gas Activity and Concession Map, 2000 Ed.  [IMAGE] [IMAGE]  Oil & Gas Map of Southeast Asia  [IMAGE]  [IMAGE]   [IMAGE]   more products   [IMAGE]      [IMAGE] [IMAGE]  featured equipment: National 110 M  [IMAGE]   Maritime Hydraulics Iron Roughneck  [IMAGE]   [IMAGE]   [IMAGE]   more equipment      [IMAGE] [IMAGE]   featured jobs:  - Field Service Technician  - First Captain:     Crew Vessel  - Naval Architect   more hot jobs >>   featured candidates:  - Senior Instrument Technician  - P! roject Engineer Control and Instrumentation  - Lead Construction, QA/QC & Commissioning Mgt.   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:   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:  $19.12/BBL  (4.25%) Brent Crude Oil:  $18.77/BBL  (-2.34%) Natural Gas:  $2.11/MMBtu  (5.50%) Unleaded Gasoline:  $0.55/gal  (-1.79%) prices from:  1/30/2002 change since:  1/29/2002  [IMAGE]   [IMAGE]    [IMAGE] 	[IMAGE]		
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