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	Thursday
January 31, 2002	 <http://www.schenker-watermakers.co.uk/> 		
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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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OPEC Expects To Increase Market Domination <http://www.rigzone.com/news/article.asp?a_id=2514>
OPEC's oil production and its domination of the oil market are expected to increase gradually over the next two decades, with the group's output rising to more than 50% of global oil demand by 2020, a recent OPEC study says.

BP Could Cut Jobs in the North Sea <http://www.rigzone.com/news/article.asp?a_id=2507>
BP is considering cutting some of its 3,600 Aberdeen-based ! workforce in a bid to control rising costs.

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Exploration	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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Guyana and Suriname Discuss Exploration Project <http://www.rigzone.com/news/article.! asp?a_id=2515>
The leaders of Guyana and Suriname are discussing a joint venture for oil and gas exploration.

Amerada Hess Hits Offshore Equatorial Guinea <http://www.rigzone.com/news/article.asp?a_id=2509>
Amerada Hess Corporation reported that it has made another significant oil discovery offshore Equatorial Guinea in the Rio Muni Basin.

Pertamina Bidding for Devon Indonesia Assets <http://www.rigzone.com/news/article.asp?a_id=2508>
Pertamina is ready to submit a bid to acquire Devon Energy's local assets.

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Production	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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ExxonMobil Inks Deal To Supply Qatari Gas <http://www.rigzone.com/news/article.asp?a_id=2513>
ExxonMobil Middle East Gas Marketing Limited, the Kuwait Petroleum Corporation and Qatar Petroleum have outlined key co! mmercial terms for the sale of Qatari Gas to Kuwait.

Statoil Buys Polish LPG Company <http://www.rigzone.com/news/article.asp?a_id=2511>
Statoil's subsidiary Statoil Polska has bought the Polish LPG company Duwe Gaz.

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Company & Financial News	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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BP and E.ON Go Ahead with Veba Deal <http://www.rigzone.com/news/article.asp?a_id=2517>
BP announced that it has agreed with E.ON to go ahead with its plan to acquire a majority stake in Veba Oil with effect from February 1. 

PGS and BP Form Alliance <http://www.rigzone.com/news/article.asp?a_id=2516>
Petroleum Geo-Services announced that its Data Processing division, in close cooperation with its Research division, has secured a Geophysical Technology Alliance with BP through the Gulf of Suez Petroleum Company (GUPCO).

Honeywell Lands Belanak Contract <http://www.rigz! one.com/news/article.asp?a_id=2510>
Honeywell Industry Solutions has been selected as the automation supplier for the Belanak oil field development project in Indonesia. 

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Last 7 Days Top Stories	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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Kvaerner Awarded Escravos FEED Contract <http://www.rigzone.com/n! ews/article.asp?a_id=2463>
Kvaerner has been awarded the FEED work for the Escravos Gas Project Phase 3 by NNPC/Chevron.

Conoco Sets Budget for 2002 <http://www.rigzone.com/news/article.asp?a_id=2474>
Conoco to spend the majority of its $2.8 billion dollar budget on upstream operations in 2002.

Court Rules on Offshore Injury Case <http://www.rigzone.com/news/article.asp?a_id=2473>
United States Fifth Circuit Court of Appeals decides that wireline perforation used in drilling and capping wells is not "ultrahazardous".

Kvaerner To Open New Umbilicals Facility <http://www.rigzone.com/news/article.asp?a_id=2471>
Kvaerner has decided to invest NOK 100 million in a new umbilicals production facility for the subsea segment of the oil and gas industry in the Gulf of Mexico or Houston area.

AEC and! PanCanadian Confirms Merger Plans <http://www.rigzone.com/news/article.asp?a_id=2492>
Alberta Energy Company and PanCanadian join forces in a "merger of equals" that will create one of North America's largest independent energy companies.

Marathon Makes Discovery in Alaska <http://www.rigzone.com/news/article.asp?a_id=2460>
Marathon oil has made a significant discovery on its Ninilchik Prospect located approximately 35 miles south of Kenai, Alaska.

Trident Appraisal Well Successful <http://www.rigzone.com/news/article.asp?a_id=2468>
Unocal Corporation said that it continues to be encouraged after successfully completing the first appraisal well at the Trident deepwater Gulf of Mexico discovery in Alaminos Canyon Block 903.

Nabors Industries Has Record Year <http://www.rigzone.com/news/article.asp?a_id=2469>
Nabors Industries Inc. said its fourth-quarter earnings rose slightly even though North American natural gas drilling slowed down as a res! ult of lower gas prices. 

Meridian Acquires Additional Acreage in Louisiana <http://www.rigzone.com/news/article.asp?a_id=2459>
The Meridian Resource Corporation recently closed on the purchase of a major land rights position covering over 190,000 acres located in the Company's focus area of south Louisiana.

Petro-Canada Acquires Veba Assets <http://www.rigzone.com/news/article.asp?a_id=2500>
Petro-Canada announced that it has agreed to acquire the international oil and gas operations of Veba Oil & Gas Gmbh from Veba and BP p.l.c. for a price of Cdn $3.2 billion in cash. 

Unocal Replaces 222% of 2001 Production <http://www.rigzone.com/news/article.asp?a_id=2490>
Unocal Corporation said it replaced 222 percent of its worldwide crude oil and natural gas production during 2001 with new proved reserves.

Technip Coflexip Lands Brunei Development Project <http://www.rigzone.com/news/article.asp?a_id=2496>
Technip-Coflexip has recently been awarded a contract by Brunei Shell Petroleum Co. for its Egret Phase 1 Gas Development Project, offshore Brunei.

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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?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	
May. 6 	Offshore Technology Conference 2002 <http://www.rigzone.com/news/event_detail.asp?event_id=31>	Houston	
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  <http://www.rigzone.com/images/spacer.gif>	featured equipment:	
National 110 M <http://www.rigzone.com/market/surplus_listing.asp?eq_id=432>	
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Maritime Hydraulics Iron Roughneck <http://www.rigzone.com/market/surplus_listing.asp?eq_id=213>	
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  <http://www.rigzone.com/images/spacer.gif>	featured jobs: 	
-Field Service Technician <http://www.rigzone.com/jobs/job_posting.asp?p_id=1021>	
-	First Captain: Crew Vessel <http://www.rigzone.com/jobs/job_posting.asp?p_id=1014>	
-	Naval Architect <http://www.rigzone.com/jobs/job_posting.asp?p_id=998>	
more hot jobs >> <http://www.rigzone.com/jobs/hot_jobs.asp>	
featured candidates: 	
-	Senior Instrument Technician <http://www.rigzone.com/jobs/resume.asp?r_id=10389>	
-	P! roject Engineer Control and Instrumentation <http://www.rigzone.com/jobs/resume.asp?r_id=10387>	
-	Lead Construction, QA/QC & Commissioning Mgt. <http://www.rigzone.com/jobs/resume.asp?r_id=10383>	
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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: 	69.9%	(51/73)	
3rd Gen: 	86.0%	(43/50)	
4th Gen: 	97.4%	(37/38)	
5th Gen: 	100.0%	(7/7)	
Jackups:	
To 200': 	53.7%	(36/67)	
200' MC: 	58.3%	(14/24)	
200' MS: 	14.3%	(3/21)	
300' IC: 	86.5%	(83/96)	
+300' IC: 	92.6%	(50/54)	
Severe Env.: 	90.5%	(19/21)	
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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: 	$19.12/BBL 
(4.25%)	
Brent Crude Oil: 	$18.77/BBL 
(-2.34%)	
Natural Gas: 	$2.11/MMBtu 
(5.50%)	
Unleaded Gasoline: 	$0.55/gal 
(-1.79%)	
prices from: 	1/30/2002	
change since: 	1/29/2002	
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