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	Thursday
January 17, 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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UK's 20th Licensing Round Open for Bids <http://www.rigzone.com/news/article.asp?a_id=2413>
The UK's 20th licensing round opens up almost 300 offshore blocks.

African Oil Workers Launch General Strike <http://www.rigzone.com/news/article.asp?a_id=2408>
The Nigeria Labor Congress launched a general strike on Wednesday in an effort to force the government to reverse a recent decision to increase fuel prices.

Shell Evacuates Brent C Platform <http://www.rigzone.com/news/article.asp?a_! id=2404>
A hydrogen sulfide gas leak was discovered on Shell's Brent C Platform in the UK North Sea last night. 

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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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Marathon Drills Two Dusters in Gulf of Mexico <http://www.rigzone.com/news/article.! asp?a_id=2411>
Marathon Oil Company reported that it did not encounter hydrocarbons at the company's Paris Carver and Flathead exploratory wells in the deepwater Gulf of Mexico.

Nigeria and Sao Tome & Principe Establish Joint Development Zone <http://www.rigzone.com/news/article.asp?a_id=2410>
Nigeria and the Democratic Republic of Sao Tome & Principe have established a Joint Development Zone over the offshore area that had previously been subject to competing national claims.

Matrix to Re-enter Kambuna #1 Well <http://www.rigzone.com/news/article.asp?a_id=2407>
Matrix plans to re-enter its West Kambuna # 1 well after reviewing independent third-party studies on the area.

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.

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Production	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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Buzzard Boosts PanCandian's North Sea Reserves <http://www.rigzone.com/news/article.asp?a_id=2412>
PanCanadian has increased its recoverable reserves on its Buzzard oil discovery in the North Sea, after drilling two additional appraisal wells on the structure.

Iran Finalizes Foroozan-Esfyandar Development Plan <http://www.rigzone.com/news/article.asp?a_id=2409>
Iran is close to finalizing development plans for the Foroozan-Esfyandar fields offshore Iran.

Production Restarted at Argyll Field <http://www.rigzone.com/news/article.asp?a_id=2406>
The UK's Department of Trade and Industry awarded a license to restart production from the UK's oldest offshore oilfield, Argyll.

Baja Pipeline Approved <http://www.rigzone.com/news/articl! e.asp?a_id=2403>
The FERC gave final approval to the U.S. segment of the North Baja Pipeline project.

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Company & Financial News	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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Capco Acquires Energy Reserves Group <http://www.rigzone.com/news/article.asp?a_id=2402>
Capco Energy, Inc. has signed an agreement to acquire all outstanding shares of Houston-based Energy Reserves Group.

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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.

Torch Offshore Purchases Construction Vessel  <http://www.rigzone.com/news/article.asp?a_id=2360>
Torch Offshore has purchased a 520-foot vessel which it intends to convert to a DP-2 offshore construction vessel and rename the Midnight Express.

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.

Devon Hits Offshore Brazil <http://www.rigzone.com/news/article.asp?a_id=2361>
Devon Energy has made a discovery in the shallow waters of Campos Basin offshore Brazil.

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

Anderson Employees Destroy Enron Documents <http://www.rigzone.com/news/article.asp?a_id=2369>
Andersen reports that individuals in the firm have disposed of a significant number of electronic and paper documents and correspondence relating to the Enron account

Petrobras Awards FMC $17 Million Contract <http://www.rigzone.com/news/article.asp?a_id=2358>
FMC will provide Petrobras with three deepwater solutions with a contract value of approximately $17 million.

Novus Petroleum Hits in the Gulf of Mexico <http://www.rigzone.com/news/article.asp?a_id=2362>
The La Playa-1 well in the western Gulf of Mexico offshore Padre Island has discovered natural gas.

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

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.

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.

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.

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Upcoming Oil & Gas Industry Events	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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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 & E! xhibition 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	
list your conference <http://www.rigzone.com/news/post_event.asp?action=INSERT>	view upcoming events <http://www.rigzone.com/news/event_home.as! p>	
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2001 U.S. Offshore Oil Company Directory <http://www.rigzone.com/store/product.asp?p_id=446>	
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Decision Analysis for Petroleum Exploration, 2nd Ed. <http://www.rigzone.com/store/product.asp?p_id=454>	
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  <http://www.rigzone.com/images/spacer.gif>	featured equipment:	
Wartsila Generator Sets <http://www.rigzone.com/market/surplus_listing.asp?eq_id=382>	
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BOP Closing Units <http://www.rigzone.com/market/surplus_listing.asp?eq_id=354>	
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  <http://www.rigzone.com/images/spacer.gif>	featured jobs: 	
-	Production Operator <http://www.rigzone.com/jobs/job_posting.asp?p_id=975>	
-	Construction Engineer <http://www.rigzone.com/jobs/job_posting.asp?p_id=981>	
-	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: 	
-	Field Geologist & Software Engineer <http://www.rigzone.com/jobs/resume.asp?r_id=9956>	
-	Commissioning Operator <http://www.rigzone.com/jobs/resume.asp?r_id=9949>	
-	Geological Oil and Gas Database Support Specialist <http://www.rigzone.com/jobs/resume.asp?r_id=9947>	
search for candidates >> <http://www.rigzone.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': 	96.0%	(24/25)	
Semisubs:	
2nd Gen: 	67.1%	(49/73)	
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: 	50.0%	(12/24)	
200' MS: 	14.3%	(3/21)	
300' IC: 	86.5%	(83/96)	
+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: 	$18.82/BBL 
(1.84%)	
Brent Crude Oil: 	$19.48/BBL 
(-1.27%)	
Natural Gas: 	$2.41/MMBtu 
(5.24%)	
Unleaded Gasoline: 	$0.55/gal 
(3.77%)	
prices f! rom: 	1/16/2002	
change since: 	1/15/2002	
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