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	Tuesday
February 12, 2002	iOTC <http://www.iotcnet.org> 		
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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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Hugo Chavez Appoints New Head of PDVSA <http://www.rigzone.com/news/article.asp?a_id=2594>
President Hugo Chavez on Saturday appointed Gaston Parra as head of state oil company PDVSA. 

Kuwait Accepts Resignation from Oil Minister <http://www.rigzone.com/news/article.asp?a_id=2593>
Kuwait's prime minister has accepted the resignation of his oil minister. 

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Exploration	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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Conoco and Tesco Unveil Revolutionary Drilling Rig <http://www.rigzone.com/news/article.asp?a_id=2603>
Conoco and Tesco Corporation have jointly announced plans to construct three revolutionary drilling rigs using Tesco's proprietary Casing Drilling(TM) technology.

TotalFinaElf Awarded License Offshore Brunei <http://www.rigzone.com/news/article.asp?a_id=2601>
TotalFinaElf has been awarded an exploration license in Brunei's deep water Block J.

ExxonMobil Expects to Begin Work at Sakhalin in October <http://www.rigzone.com/news/article.asp?a_id=2600>
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.

Daewoo Making Plans for Myanmar <http://www.rigzone.com/news/article.asp?a_id=2598>
Daewoo is planning to start drilling for oil and gas offshore Myanmar's west co! ast by the end of this year.

BG Announces Record Well in Boliva <http://www.rigzone.com/news/article.asp?a_id=2597>
BG Group announced record test results from its Los Suris field in southern Bolivia, using techniques never before deployed in that environment.

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Production	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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Second Phase Contracts of Sable Offshore Awarded <http://www.rigzone.com/news/article.asp?a_id=2602>
The owners of the Sable Project offshore Nova Scotia announced the awarding of contracts for Tier 2, or second phase, of the project. 

Honeywell Grabs $13.9 Million in BP Contracts <http://www.rigzone.com/news/article.asp?a_id=2599>
Honeywell and Mustang Automation and Control will provide control systems and support for BP four deepwater development projects in the Gulf of Mexico for $13.9 million.

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Company & Financial News	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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Anadarko Announces 2002 Canadian Budget <http://www.rigzone.com/news/article.asp?a_id=2596>
Anadarko Petroleum Corporation has budgeted U.S. $270 million in capital spending for Canada in 2002.

Halliburton To Provide Its Services To Russia <http://www.rigzone.com/news/article.asp?a_id=2595>
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.

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Last 7 Days Top Stories	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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Kvaerner and Aker Form Shipbuilding Company <http://www.rigzone.com/news/article.asp?a_id=2545>
Kvaerner and Aker RGI will establish a jointly owned shipbuilding management ! company. Together, the two groups own 12 shipyards in Europe, and one in the USA and Brazil.

Reliance Begins Major Exploration Program Offshore India <http://www.rigzone.com/news/article.asp?a_id=2591>
Reliance Industries will begin its ambitious three-year, $350 million offshore oil and gas exploration program in April of this year.

Vanco Awarded Acreage Offshore Equatorial Guinea <http://www.rigzone.com/news/article.asp?a_id=2563>
Vanco Energy has been awarded a 10% interest in Block N offshore Equatorial Guinea.

ChevronTexaco Announces 2002 Spending Budget <http://www.rigzone.com/news/article.asp?a_id=2568>
ChevronTexaco Corp. is reducing its capital spending this year by 22 percent from 2001 due mainly to merger-related efficiencies.

CNR Turns On the Tap At Espoir Field Offshore Cote d'Ivoire <http://www.rigzone.com/news/article.asp?a_id=2573>
Canadian Natural Resources Limite! d announces that oil production from the Espoir Field, offshore Cote d'Ivoire, Africa, commenced on February 4, 2002 at 8,500 barrels per day.

West Navion Experiences More Delays <http://www.rigzone.com/news/article.asp?a_id=2540>
Operations on the drill ship, West Navion, offshore Canada continues to be suspended, due to repair work on the main sheaves in the RamRig derrick.

PDVSA Begins 3 Year Offshore Exploration Program <http://www.rigzone.com/news/article.asp?a_id=2569>
PDVSA's justlaunched a three-year, $375 million offshore natural gas exploration program in the Atlantic near the Deltana platform area.

Unocal Secures OPIC Funds <http://www.rigzone.com/news/article.asp?a_id=2558>
OPIC will be providing support of up to $350 million in OPIC financing for two of Unocal's offshore oil and natural gas projects in Indonesia. 

Transocean Se! dco Forex Announces 2001 Results <http://www.rigzone.com/news/article.asp?a_id=2559>
Transocean Sedco Forex Inc. reported a fourth-quarter profit after one-time charges pushed it to a loss in the same period of 2000.

McMoRan Sells Main Pass 299 Facilities to OFS <http://www.rigzone.com/news/article.asp?a_id=2582>
McMoRan Exploration Co. has made an agreement to convey all of FSC's rights, title and interest in its Main Pass 299 sulphur and oil and gas leases and facilities to Offshore Specialty Fabricators, Inc. 

Hunt Awards Camisea Project to KBR <http://www.rigzone.com/news/article.asp?a_id=2588>
Hunt Oil Company has signedan agreement with Kellogg Brown & Root to conduct a Front End Engineering Design study for the Camisea LNG project.

Kuwaiti Oil Minister Offers to Step Down <http://www.rigzone.com/news/article.asp?a_id=2547>
Kuwaiti members of parliament have called for the resignation of the entire government following last week's explosi! on at an oil plant where four workers were killed and sixteen were injured.

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Upcoming Oil & Gas Industry Events	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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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. 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-Busi! ness in the E&P Industry - Targeting the Value <http://www.rigzone.com/news/event_detail.asp?event_id=228>	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	
Jun. 23 	Ocean Mechanics and Arctic Engineering 2002 <http://www.rigzone.com/news/event_detail.asp?event_id=219>	Oslo	
list your conference <http://www.rigzone.com/news/post_event.asp?action=INSERT>	view upcoming events <http://www.rigzone.com/news/event_home.asp>	
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Ambar Marine 26' Fast Rescue Boats <http://w! ww.rigzone.com/market/surplus_listing.asp?eq_id=419>	
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Gardner Denver 1100 SCR Rig <http://www.rigzone.com/market/surplus_listing.asp?eq_id=433>	
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  <http://www.rigzone.com/images/spacer.gif>	featured jobs: 	
-	Completion Specialist <http://www.rigzone.com/jobs/job_posting.asp?p_id=1031>	
-	Drilling Superintendent <http://www.rigzone.com/jobs/job_posting.asp?p_id=1048>	
-	Project Controls Manager <http://www.rigzone.com/jobs/job_posting.asp?p_id=1052>	
more hot jobs >> <http://www.rigzone.com/jobs/hot_jobs.asp>	
featured candidates: 	
-	Technical Sales Manager <http://www.rigzone.com/jobs/resume.asp?r_id=10692>	
-	Safety Supervisor <http://www.rigzone.com/jobs/resume.asp?r_id=10658>	
-	Wellsite Engineer <http://www.rigzone.com/jobs/resume.asp?r_id=10609>	
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  <http://www.rigzone.com/images/email/title_tab_RigUtil.gif>	
  <http://www.rigzone.com/images/spacer.gif>	Drillships:	
To 5000': 	57.1%	(8/14)	
+5000': 	96.0%	(24/25)	
Semisubs:	
2nd Gen: 	69.9%	(51/73)	
3rd Gen: 	84.0%	(42/50)	
4th Gen: 	100.0%	(38/38)	
5th! Gen: 	85.7%	(6/7)	
Jackups:	
To 200': 	53.7%	(36/67)	
200' MC: 	50.0%	(12/24)	
200' MS: 	14.3%	(3/21)	
300' IC: 	89.6%	(86/96)	
+300' IC: 	98.1%	(53/54)	
Severe Env.: 	95.2%	(20/21)	
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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: 	$21.29/BBL 
(5.08%)	
Brent Crude Oil: 	$21.40/BBL 
(8.52%)	
Natural Gas: 	$2.29/MMBtu 
(4.57%)	
Unleaded Gasoline: 	$0.61/gal 
(5.17%)	
prices from: 	2/11/2002	
change since: 	2/8/2002	
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