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	Monday
January 21, 2002	 <http://www.sonsub.com/> 		
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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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Kerr-McGee Sells Ecuadorian Assets <http://www.rigzone.com/news/article.asp?a_id=2436>
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 <http://www.rigzone.com/news/article.asp?a_id=2428>
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.

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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	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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Pemex Increases Exploration Spending in 2002 <http://www.rigzone.com/news/article.! asp?a_id=2435>
Pemex plans to concentrate spending on explortion and production projects in 2002.

Drilling Operations Halted on West Navion <http://www.rigzone.com/news/article.asp?a_id=2427>
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.

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Production	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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Shell Brings Two Gulf of Mexico Fields Onstream <http://www.rigzone.com/news/article.asp?a_id=2438>
Shell Exploration & Production Company's Crosby and Einset subsea fields are now online and sending production to their hub platforms.

Visund Onstream In January <http://www.rigzone.com/news/article.asp?a_id=2434>
Norsk Hydro reports that its Visund North field is scheduled to come onstream later this mon! th.

Brent C Platform Back Online <http://www.rigzone.com/news/article.asp?a_id=2433>
Shell's Brent C offshore platform was put back into operation early Friday.

Corus Tubes Awarded Kvitebjorn Pipe Contract <http://www.rigzone.com/news/article.asp?a_id=2431>
Corus Tubes steelworks will supply pipe for the Kvitebjorn oil pipeline, which will be laid between the Kvitebjorn gas and condensate field and Troll Oil Pipeline II in the North Sea.

NWS Is On The Short List for Chinese LNG Supply <http://www.rigzone.com/news/article.asp?a_id=2430>
Australia's North West Shelf Project has been invited bid on a contract for the supply of liquefied natural gas to the first receiving terminal to be built in China, at Chengtaojiao.

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Company & Financial News	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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Veritas and PGS Clear U.S. Antitrust Hurdle <http://www.rigzone.com/news/arti! cle.asp?a_id=2437>
The Hart-Scott-Rodino waiting period has expired for Veritas and PGS.

New Gas Company Created in Norway <http://www.rigzone.com/news/article.asp?a_id=2432>
A company which plans to create a regional gas market in the Grenland industrial area of southeast Norway has been established by Statoil and three domestic partners.

CNOOC Announces 2002 Strategy  <http://www.rigzone.com/news/article.asp?a_id=2429>
In 2002, CNOOC will continue to focus on growing production, executing development plans and adding reserves through exploration.

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advertisement	
 <http://www.rigzone.com/news/event_detail.asp?event_id=194> Human Resources in Oil and Gas is the comprehensive HR forum for the industry. The conference will deal with attracting and retaining quality staff and dealing with the effects of mergers, acquisitions, and restructuring. This conference is a must for anyone involved in the often hectic human resources decisions of todays oil and gas companies. HR in Oil and Gas is being held in Aberdeen on February 27 and 28. Click here for more information. <http://www.rigzone.com/news/event_detail.asp?event_id=194> 	

	

Last 7 Days Top Stories	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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Former Enron Execs Start New Company <http://www.rigzone.com/n! ews/article.asp?a_id=2387>
Several former Enron senior executives have formed a new company to provide risk management services to the energy industry.

Anadarko Petroleum Provides 2002 Outlook <http://www.rigzone.com/news/article.asp?a_id=2384>
Anadarko Petroleum Corporation outlines its expectations for capital spending for 2002 and offers guidance on 2001 financial and operating results.

U.S. Approves Deepwater Royalty Relief <http://www.rigzone.com/news/article.asp?a_id=2405>
Gale Norton, Secretary of the Interior, announced that oil and gas companies drilling in Gulf of Mexico deepwater will be given royalty reductions.

National-Oilwell Acquires HALCO <http://www.rigzone.com/news/article.asp?a_id=2375>
National-Oilwell has acquired HAL Oilfield Pump & Equipment Company.

Conoco Focuses on I! ndonesia  <http://www.rigzone.com/news/article.asp?a_id=2422>
Conoco expects to spend over $2.5 billion in Indonesia during the next nine years, as part of planned investment of $3.4 billion between 1998 and 2010.

Venture To Begin Drilling Program on Sycamore Field <http://www.rigzone.com/news/article.asp?a_id=2397>
Venture Production will start drilling in May of this year at its Sycamore field in the UK Sector of the North Sea.

Energy Partners Completes Hall-Houston Acquisition <http://www.rigzone.com/news/article.asp?a_id=2401>
Energy Partners, Ltd. has completed the acquisition of Hall-Houston and has elected Gary Hall, HHOC's founder, to the post of Vice-Chairman of EPL.

Statoil Sells First Oil From Girassol <http://www.rigzone.com/news/article.asp?a_id=2400>
Statoil has sold its first load of crude - one million barrels - from the TotalFinaElf-operated Girassol field offshore Angola.

PGS Awarded $58 Million in New Contracts <http://www.rigzone.com/news/article.asp?! a_id=2424>
Petroleum Geo-Services ASA announced that its onshore division has secured new seismic acquisition contracts in the United States, Ecuador, India and Bangladesh valued at $58 million.

Kongsberg Awarded Crazy Horse Project <http://www.rigzone.com/news/article.asp?a_id=2379>
Kongsberg Simrad has been awarded a contract for providing an integrated control and monitoring system to BP for the Crazy Horse PDQ semisub.

Shell and CNOOC Sign PSC Agreement <http://www.rigzone.com/news/article.asp?a_id=2386>
CNOOC and Shell Exploration China Limited signed a Production Sharing Contract for the exploration of the Bonan area of Bohai Bay.

Talisman Expects to Spend $2 Billion in 2002 <http://www.rigzone.com/news/article.asp?a_id=2388>
Talisman's 2002 budget for exploration and development is $2 billion which is a 6% increase over the 2001 budget.

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Jan. 22 	Alliances and Partnering in Oil & Gas <http://www.rigzone.com/news/event_detail.asp?event_id=75>	Singapore	
Feb. 6 	Torch Mid-Winter Energy Conference <http://www.rigzone.com/news/event_detail.asp?event_id=196>	New York	
Feb. 7 	Marine Construction 2002 <http://www.rigzone.com/news/event_detail.asp?event_id=166>	Houston	
Feb. 10 	2002 SPE International Petroleum Conference & Exhibition in Mexico <http://www.rigzone.com/news/event_detail.asp?event_id=35>	Villahermosa	
Feb. 26 	2002 IADC/SPE Drilling Conference and Exhibition  <http://www.rigzone.com/news/event_detail.asp?event_id=37>	Dallas	
Feb. 26 	Offshore Oil and Gas Safety Seminars <http://www.rigzone.com/news/event_detail.asp?event_id=214>	Aberdeen	
Feb. 27 	Human Resources in Oil & Gas <http://www.rigzone.com/news/event_detail.asp?event_id=194>	Aberdeen	
Mar. 10 	AAPG Annual Meeting <http://www.rigzone.com/news/event_detail.asp?event_id=21>	Houston	
Mar. 20 	LNG North America <http://www.rigzone.com/news/event_detail.asp?event_id=201>	Houston	
Apr. 9 	2002 SPE/ICoTA Coiled Tubing Conference and Exhibition <http://www.rigzone.com/news/event_detail.asp?event_id=41>	Houston	
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D & D Standard Oil Abbreviator, 4th Edition <http://www.rigzone.com/store/product.asp?p_id=140>	
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  <http://www.rigzone.com/images/spacer.gif>	featured equ! ipment:	
Oilwell 840-E <http://www.rigzone.com/market/surplus_listing.asp?eq_id=413>	
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National 1320-UE <http://www.rigzone.com/market/surplus_listing.asp?eq_id=383>	
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  <http://www.rigzone.com/images/spacer.gif>	featured jobs: 	
-	Structural Engineer <http://www.rigzone.com/jobs/job_posting.asp?p_id=985>	
-	Drill! er <http://www.rigzone.com/jobs/job_posting.asp?p_id=959>	
-	Senior Pipeline Engineer <http://www.rigzone.com/jobs/job_posting.asp?p_id=956>	
more hot jobs >> <http://www.rigzone.com/jobs/hot_jobs.asp>	
featured candidates: 	
-	Project Management Specialist <http://www.rigzone.com/jobs/resume.asp?r_id=10029>	
-	Drilling and Completion Engineer <http://www.rigzone.com/jobs/resume.asp?r_id=9993>	
-	Service Supervisor <http://www.rigzone.com/jobs/resume.asp?r_id=10023>	
search for candidates >> <http://www.rig! zone.com/jobs/search_resume.asp>	
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  <http://www.rigzone.com/images/email/title_tab_RigUtil.gif>	
  <http://www.rigzone.com/images/spacer.gif>	Drillships:	
To 5000': 	50.0%	(7/14)	
+5000': 	92.0%	(23/25)	
Semisubs:	
2nd Gen: 	68.5%	(50/73)	
3rd Gen: 	86.0%	(43/50)	
4th Gen: 	100.0%	(38/38)	
5th Gen: 	100.0%	(7/7)	
Jackups:	
To 200': 	56.7%	(38/67)	
200' MC: 	58.3%	(14/24)	
200' MS: 	14.3%	(3/21)	
300' IC:! 	87.5%	(84/96)	
+300' IC: 	90.7%	(49/54)	
Severe Env.: 	81.0%	(17/21)	
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view complete utilization report <http://www.rigzone.com/data/utilization_trends.asp>	

  <http://www.rigzone.com/images/email/title_tab_OilPrices.gif>	
  <http://www.rigzone.com/images/spacer.gif>	Light Crude Oil: 	$18.00/BBL 
(-0.55%)	
Brent Crude Oil: 	$18.45/BBL 
(0.16%)	
Natural Gas: 	$2.23/MMBtu 
(-1.76%)	
Unleaded Gasoline: 	$0.54/gal 
(1.89%)	
prices from: 	1/18/2002	
change since: 	1/17/2002	
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