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	Monday February 18, 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]       Amerada Hess To Reduce UK Workforce  Amerada Hess will reduce its exploration and production staff based in the UK by approximately 15 precent.  California Proposes Offshore Lease Exchange  Sen. Barbara Boxer is proposing legislation that would halt new drilling offshore California.    [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]  Indonesia Closes E?Tender in July  Indonesia is offering seventeen blocks in an exploration and production tender that was delayed from the fourth quarter of 2001.  Offshore Nigerian Field Confirmed  Three appraisal wells have confirmed the potential of a previously unknown offshore oil field in Nigeria.   Russian Environmentalists Seeking Sakhalin Drilling Ban  A Moscow court will hear a lawsuit in April filed by Russian environmental groups seeking to ban oil and gas projects off Sakhalin island in the Russian Far East.    [IMAGE]   [IMAGE]       Production [IMAGE]      [IMAGE]     [IMAGE]  AMEC Secures Indonesian Offshore Services Contract   AMEC has been awarded a key! offshore services contract by YPF Maxus valued at US $2.6 million.  Sudan Field Has Estimated Reserves of 149.1 Million Barrels  Lundin Petroleum said an independent study of Block 5A at the Thar Jath field in Sudan put estimated reserves there at 149.1 million barrels of oil.  ExxonMobil and ChevronTexaco Consider Underwriting Pipeline  ExxonMobil and ChevronTexaco are exploring the possibility of building a $1.13 billion trans-Balkan pipeline.    [IMAGE]   [IMAGE]       Company & Financial News [IMAGE]      [IMAGE]     [IMAGE]  Noble Affiliates Makes Management Changes  Noble Affiliates, Inc. announced the appointment of three executives to new positions in the company.  PetroQuest Energy, Inc. Announces $20 Million Stock Offering  PetroQuest Energy, Inc. announced the offering of 4,545,455 shares of its common stock in an underwritten offering at a price of $4.40 per share.    [IMAGE]   [IMAGE]       Last 7 Days Top Stories [IMAGE]      [IMAGE]     [IMAGE]  Conoco and Tesco Unveil Revolutionary Drilling Rig  Conoco and Tesco Corporation have jointly announced plans to construct three revolutionary drilling rigs using Tesco's proprietary Casing Drilling(TM) technology.  ExxonMobil Expects to Begin Work at Sakhalin in October  Exxon Neftegas, operator of Russia's Sakhalin-I oil and gas field, will begin drilling operations in two offshore deposits in October of this year.  Reliance Begins Major Exploration Program Offshore India  Reliance Industries will begin its ambitious three-year, $350 million offshore oil and gas exploration program in April of this year.  Halliburton To Provide Its Services To Russia  Halliburton International Inc. and Sibneft, signed an agreement that will give Halliburton the ability to deploy all of its product service lines to the Russian oil and gas market.  Ottawa Could Open Coast to Offshore Drilling  Ottawa officials said they are prepared to consider a proposal to remove the long-standing moratorium on offshore oil and gas drilling in British Columbia.  El Paso Pulls The Trigger on Major GOM Pipeline  El Paso Energy Partners, L.P. wi! ll build and operate the Cameron Highway Oil Pipeline System, a major new 380-mile oil pipeline in the Gulf of Mexico.  Hugo Chavez Appoints New Head of PDVSA  President Hugo Chavez on Saturday appointed Gaston Parra as head of state oil company PDVSA.   PanCanadian Drills Another Duster  PanCanadian drills its third duster offshore eastern Canada.  Amerada Hess Resumes Production at Ceiba  Amerada Hess Corporation announced that the Ceiba Field offshore Equatorial Guinea resumed oil production in late January and is now flowing at rates in excess of 50,000 barrels of oil per day.  Hunt Awards Camisea Project to KBR  Hunt Oil Company has signedan agreement with Kellogg Brown & Root to! conduct a Front End Engineering Design study for the Camisea LNG project.  Two Major Oil Fields Discovered in Columbia  Joint-venture partners of Colombia's Ecopetrol have found two new oil fields in eastern and southern Colombia with reserves of about 100 million barrels each.  National Oilwell Posts 2001 Record Revenues and Net Income  National-Oilwell, Inc. reported 2001 revenues and net income of $1747.5 million and $104.1 million ($1.27 per diluted share), up from $1149.9 million and $13.1 million ($0.16 per diluted share) in the prior year.    [IMAGE]   [IMAGE]       Upcoming Oil & Gas Industry Events [IMAGE]      [IMAGE]     [IMAGE]  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. 2     e-Business in the E?Industry - Targeting the Value  Houston Apr. 9     2002 SPE/ICoTA Coiled Tubing Conference and Exhibition  Houston May. 6     Offshore Technology Conference 2002  Houston Jun. 23    Ocean Mechanics and Arctic Engineering 2002  Oslo  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]   promote your company     [IMAGE]    [IMAGE]  [IMAGE]  Energy Statistics Sourcebook, 14th Edition on CD-ROM  [IMAGE] [IMAGE]  Contact Directory 2001 on CD  [IMAGE] [IMAGE]  Offshore - Oil Employment Package  [IMAGE]  [IMAGE]   [IMAGE]   more products         [IMAGE] [IMAGE]  featured equipment: Gardner Denver 1100 SCR Rig  [IMAGE]   National 1320 UE (Partial Rig)  [IMAGE]   [IMAGE]   [IMAGE]   more equipment      [IMAGE] [IMAGE]   featured jobs:  - Senior Metallurgist (BS)  - SR Engineer-Rotating Equipment  - Field Sales/Service Support Engineer  more hot jobs >>    featured candidates:  - Senior Drilling Engineer & Consultant  - Senior Contracts Manager  - Well Service Engineer   search for candidates >>   [IMAGE]   [IMAGE]     [IMAGE] [IMAGE]   Drillships:  To 5000':   57.1% (8/14) +5000':   ! 96.0% (24/25)  Semisubs:  2nd Gen:   70.8% (51/72) 3rd Gen:   86.0% (43/50) 4th Gen:   100.0% (38/38) 5th Gen:   85.7% (6! /7)  Jackups:  To 200':   55.2%  (37/67) 200' MC:   50.0% (12/24) 200' MS:   14.3% (3/21) 300' IC:   90.6% (87/96) +300' IC:   94.4% (51/54) Severe Env.:   85.7% (18/21)  [IMAGE]   [IMAGE]   view complete utilization report      [IMAGE] [IMAGE]  Light Crude Oil:  $21.50/BBL  (1.37%) Brent Crude Oil:  $20.86/BBL  (-0.38%) Natural Gas:  $2.20/MMBtu  (1.85%) Unleaded Gasoline:  $0.61/gal  (1.67%) prices from:  2/15/2002 change since:  2/14/2002  [IMAGE]   [IMAGE]    [IMAGE] 	[IMAGE]		
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