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	Wednesday
January 23, 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

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Surplus Oilfield Equipment For Sale
Worldwide Offshore Rig Utilization
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Industry Headlines	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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Tanker Runs Aground In Thailand <http://www.rigzone.com/news/article.asp?a_id=2456>
An oil tanker has run aground in Chon Buri province in the Gulf of Thailand and an oil slick is threatening a nearby resort island.

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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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Shell Hits Offshore Nigeria <http://www.rigzone.com/news/article.! asp?a_id=2455>
Shell Nigeria has made a significant discovery in the deep waters offshore Nigeria.

Transocean Puts Two Rigs Back to Work <http://www.rigzone.com/news/article.asp?a_id=2448>
Transocean Sedco Forex Inc. has been awarded contracts for two high-specification floating drilling rigs and has received a contract extension on a third high-specification floating drilling rig. 

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Production	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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Bouygues/Saipem Awarded Algerian Contract <http://www.rigzone.com/news/article.asp?a_id=2457>
Sonatrach has awarded a joint venture of Saipem and Bouygues a $257 million oilfield development project in Algeria.

Kerr-McGee Boosts Reserves <http://www.rigzone.com/news/article.asp?a_id=2453>
Kerr-McGee Corp. has replaced 490% of its 2001 worldwide production of 108 million barrels of oil equivalent (BOE) at an average finding, development and acquisition cost of $5.73 per BOE.

Unocal Installs Production Platform Offshore Indonesia <http://www.rigzone.com/news/article.asp?a_id=2450>
Unocal's Yakin field production platform was installed using a float over and ballast down technique resulting in a substantial cost and time savings for Unocal.

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Company & Financial News	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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Kongsberg Acquires Stake in Seaflex AS <http://www.rigzone.com/news/article.asp?a_id=2454>
Kongsberg Simrad has strengthened its offshore activity by signing an agreement with Advanced Product and Loading AS for the acquisition of its 62% stake in Seaflex NOK 22 million.

Pogo Plans Aggressive Capital Program in 2002 <http://www.rigzone.com/news/article.asp?a_id=2452>
Pogo's Board of Directors has approved a $340 million capital and exploration budget for 2002 and has planned an aggressive exploration and drilling schedule.

Diamond Offshore Reports 4th Quarter Results <http://www.rigzone.com/news/article.asp?a_id=2451>
Diamond Offshore reported a net income of $39.8 million for the fourth quarter of 200! 1, compared to net income of $28.7 million for the fourth quarter of 2000.

PGS Sells Subsidiary <http://www.rigzone.com/news/article.asp?a_id=2449>
PGS and Sinochem have entered into an agreement for the sale of PGS' Atlantis subsidiary for approximately $215 million. 

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Last 7 Days Top Stories	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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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.

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.

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.

Kerr-McGee Sells Ecuadorian Assets <http://www.rigzone.com/news/article.asp?a_id=2436>
Kerr-McGee ha! s 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.

Conoco Focuses on Indonesia  <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.

CNOOC Jackup Leaves China <http://www.rigzone.com/news/article.asp?a_id=2414>
CNOOC secured the first contract for overseas service as an independent contractor in the international drilling market.

PGS Awarded $58 Million in New Contracts <http://www.rigzone.com/news/article.asp?a_id=2424>
Petrol! eum 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.

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.

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.

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.

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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Upcoming Oil & Gas Industry Events	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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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?e! vent_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	
May. 6 	Offshore Technology Conference 2002 <http://www.rigzone.com/news/event_detail.asp?event_id=31>	Houston	
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	featured equipment:	
Ambar Marine 26' Fast Rescue Boats <http://www.rigzone.com/market/surplus_listing.asp?eq_id=419>	
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Cabot 200 Drilling and Workover Rig  <http://www.rigzone.com/market/surplus_listing.asp?eq_id=400>	
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  <http://www.rigzone.com/images/spacer.gif>	featured jobs: 	
-	Safety & Regulatory Compliance Specialist <http://www.rigzone.com/jobs/job_posting.asp?p_id=574>	
-	Slickline Engineer <http://www.rigzone.com/jobs/job_posting.asp?p_id=989>	
-	Process/Mechanical Engineer <http://www.rigzone.com/jobs/job_posting.asp?p_id=987>	
more hot jobs >> <http://www.rigzone.com/jobs/hot_jobs.asp>	
featured candidates: 	
-	Exp. Drlg. Consultant <http://www.rigzone.com/jobs/resume.asp?r_id=10083>	
-	Talented Training Superv! isor <http://www.rigzone.com/jobs/resume.asp?r_id=10161>	
-	Naval Engineer and Project Manager <http://www.rigzone.com/jobs/resume.asp?r_id=10110>	
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  <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': 	58.2%	(39/67)	
200' MC: 	58.3%	(14/24)	
200' MS: 	14.3%	(3/21)	
300' IC: 	87.5%	(84/96)	
+300' IC: 	88.9%	(48/54)	
Severe Env.: 	81.0%	(17/21)	
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view complete utilization report <http://www.rigzone.com/data/utilization_trends.asp>	

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  <http://www.rigzone.com/images/spacer.gif>	Light Crude Oil: 	$18.34/BBL 
(1.89%)	
Brent Crude Oil: 	$18.74/BBL 
(1.57%)	
Natural Gas: 	$2.12/MMBtu 
(-4.93%)	
Unleaded Gasoline: 	$0.55/gal 
(3.77%)	
prices from: 	1/22/2002	
change since: 	1/21/2002	
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