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	Friday
February 15, 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

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Industry Headlines	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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Brunei Creates New State-Owned Oil Company <http://www.rigzone.com/news/article.asp?a_id=2634>
Brunei is set to play a bigger role in the global oil and gas scene under the newly established state-owned PetroleumBRUNEI.

OPEC Seeks Clarification of Russian Position on Cuts <http://www.rigzone.com/news/article.asp?a_id=2632>
OPEC hopes a trip to Russia before the cartel's March 15 meeting will clear up the status of Russia's commitment to cuts in oil exports.

BG completes Acquisition of Enron India <http://www.rigzone.com/news/article.asp?a_id=2629>
BG Group has completed the purchase of the entire share capital of Enron Oil and Gas India Limited for US $350 million from Enron Corp.

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Exploration	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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Pertamina Makes Discovery In West Java <http://www.rigzone.com/news/article.! asp?a_id=2630>
Pertamina's first exploration well in the Subang block in West Java has yielded 1,558 barrels of oil per day.

SOCO Enters Farm-Out Agreement with PTTEP <http://www.rigzone.com/news/article.asp?a_id=2628>
SOCO Vietnam Ltd. has executed a farm-out agreement with PTTEP for blocks 9-2 and 16-1 in the Cuu Long Basin offshore Vietnam.

Indo-Pacific Commences Anson North-1 Well This Month <http://www.rigzone.com/news/article.asp?a_id=2625>
The Anson North-1 well in permit AC/P 26, offshore West Australia, is expected to commence on February 15.

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Production	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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Alaskan Pipeline May Not Be In Service Till 2010 <http://www.rigzone.com/news/article.asp?a_id=2631>
A natural gas pipeline from Alaska to U.S. markets is not likely to be in ser! vice until the end of this decade.

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Company & Financial News	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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Prosafe acquires the Polyconcord <http://www.rigzone.com/news/article.asp?a_id=2633>
Prosafe ASA has entered into an agreement with K/S Rasmussen Offshore A/S for the purchase of the semisubmersible accommodation and service rig Polyconcord.

Santos Looking to Expand Its Portfolio <http://www.rigzone.com/news/article.asp?a_id=2627>
Santos Ltd said it was aiming to boost production, cut costs and expand its portfolio through acquisitions after an overhaul of its reserves and structure in 2001.

Nexen Reports 2001 A Record Year <http://www.rigzone.com/news/article.asp?a_id=2626>
Nexen Inc. announced record operating results for 2001 and the second best annual financial results in the company's history.

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Last 7 Days Top Stories	  <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.

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.

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.

Halliburton To Provide Its Services To Russia <http://www.rigzone.c! om/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.

El Paso Pulls The Trigger on Major GOM Pipeline <http://www.rigzone.com/news/article.asp?a_id=2618>
El Paso Energy Partners, L.P. will build and operate the Cameron Highway Oil Pipeline System, a major new 380-mile oil pipeline in the Gulf of Mexico.

Ottawa Could Open Coast to Offshore Drilling <http://www.rigzone.com/news/article.asp?a_id=2624>
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.

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. 

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. 

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.

Two Major Oil Fields Discovered in Columbia <http://www.rigzone.com/news/article.asp?a_id=2592>
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 2! 001 Record Revenues and Net Income <http://www.rigzone.com/news/article.asp?a_id=2604>
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.

Amerada Hess Resumes Production at Ceiba <http://www.rigzone.com/news/article.asp?a_id=2616>
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.

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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 Internationa! l <http://www.rigzone.com/news/event_detail.asp?event_id=224>	Geilo	
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Apr. 2 	e-Business 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	
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  <http://www.rigzone.com/images/spacer.gif>	featured equipment:	
Cabot 200 Drilling and Workover Rig  <http://www.rigzone.com/market/surplus_listing.asp?eq_id=400>	
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Ideco BIR 305 <http://www.rigzone.com/market/surplus_listing.asp?eq_id=429>	
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  <http://www.rigzone.com/images/spacer.gif>	featured jobs: 	
-	International Consulting Co. <http://www.rigzone.com/jobs/job_posting.asp?p_id=1060>	
-	Electrical Project Engineer <http://www.rigzone.com/jobs/job_posting.asp?p_id=1063>	
-	Control System Specialist <http://www.rigzone.com/jobs/job_posting.asp?p_id=627>	
more hot jobs >> <http://www.rigzone.com/jobs/hot_jobs.asp>	
featured candidates: 	
-	Drilling, Pipeline and Project Management Position <http://www.rigzone.com/jobs/resume.asp?r_id=9110>	
-	Experienced Rig Superintendint <http://www.rigzone.com/jobs/resume.asp?r_id=10748>	
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  <http://www.rigzone.com/images/spacer.gif>	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)	
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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: 	$21.21/BBL 
(-0.09%)	
Brent Crude Oil: 	$20.94/BBL 
(1.16%)	
Natural Gas: 	$2.16/MMBtu 
(-4.00%)	
Unleaded Gasoline: 	$0.60/gal 
(0.00%)	
prices from: 	2/14/2002	
change since: 	2/13/2002	
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