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	Tuesday January 8, 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]       ONGC Rejects BG Bid for Oilfield  ONGC has turned down another offer by BG Group to acquire Enron's 30% stake in three fields offshore western India.  ENSCO Makes Management Changes  ENSCO International has promoted three senior vice presidents.    [IMAGE]   [IMAGE]       Exploration [IMAGE]      [IMAGE]     [IMAGE]  BHP To Begin Drilling In Archer Field 1Q 2002  BHP has scheduled drilling operations for the Archer Field in the Bass Straits Offshore Australia for the first quarter of 2002.  PanCanadian Exercises Drilling Option  PanCanadian has exercised its first option to drill an additional well with the Borgny Dolphin on the Buzzard Field in the North Sea.    [IMAGE]   [IMAGE]       Production [IMAGE]      [IMAGE]     [IMAGE]  Unocal Increases Production Offshore Thailand  Unocal Thailand has plans to double the crude output in the Gulf of Thailand this year as part of a six-year development plan.  Mackenzie Delta Pipeline Maki! ng Progress  The Mackenzie Delta Producers Group has begun the application process for receiving approval to develop the onshore natural gas resources of the Mackenzie Delta.  CNOOC To Begin Production at Three Fields This Year  CNOOC is expected to begin production at three fields offshore China.  Two are located in Bohai Bay and the other is located in the South China Sea.  Sincor Facility Construction Complete  Construction of the Sincor Project in Venezuela was completed on schedule and start-up has commenced.    [IMAGE]   [IMAGE]       Company & Financial News [IMAGE]      [IMAGE]     [IMAGE]  Houston Exploration Completes Acquisition  Houston Exploration finalizes South Texas proper! ty acquisition from Conoco for $69 million.  Unocal Sets 2002 Capital Budget at $1.7 Billion  Unocal will shift focus in 2002 to development programs and expects to spend approximately $250 million in deepwater locations such as the Gulf of Mexico and Indonesia.    [IMAGE]   [IMAGE]  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            Last 7 Days Top Stories [IMAGE]      [IMAGE]     [IMAGE]  MMS Approves Use of FPSOs In Gulf of Mexico  The U.S. Minerals Management Service has approved the use of FPSO vessels in the central and western portions of the Gulf of Mexico.  Halliburton Says the Rumors Are Not True  Halliburton says there is no basis for the rumors that the company has filed for bankruptcy.  Enron Receives Approval to Sell Two Assets  On December 28th a judge approved the sale of two of Enron's assets at a value of $310 million.  Nabors Changes Corporate Structure  Nabors Industries Board of Directors has approved a plan to reorganize the company and change its place of incorporation from Delaware to Bermuda.  Marathon Acquires Interest! s in Equatorial Guinea  Marathon has completed its acquisition of CMS Energy's interests in Equatorial Guinea for $993 million.  Kvaerner Receives Final Approval for Rescue Plan  Kvaerner has received approval from the final group of lenders for the rescue plan that would merge Kvaerner and Aker Maritime.  Halliburton Introduces New Perforation Flow Laboratory  Halliburton has added its Perforation Flow Laboratory to its PerfPro process to provide detailed instrumentation and controlled-laboratory conditions that can allow insight into physical phenomena occurring in the reservoir during complicated perforating and multi-phase flow events.  FMC Corporation Spins Off FMC Technologies  FMC Corporation has distributed all of its remaining shares in F! MC Technologies making it a fully independent company.  SMOE Awarded North Sea Platform Contract  SembCorp has been awarded a contract by Maersk for the installation of a process deck and accommodation module in the North Sea.  Marathon Begins Trading on NYSE  Marathon Oil Corporation has begun trading on the New York Stock Exchange as a standalone company following the separation of Marathon Group and U.S. Steel.  Prosafe Awarded FPSO Work Offshore Nigeria  Prosafe has been awarded an eight-year contract for an FPSO to work on the Abo field offshore Nigeria by a consortium led by Agip.  Smedvig's CEO Resigns  Christian Bull Eriksson has announced that he will step down as CEO of Smed! vig ASA effective immediately.    [IMAGE]   [IMAGE]       Upcoming Oil & Gas Industry Events [IMAGE]      [IMAGE]     [IMAGE]  Jan. 22    Alliances and Partnering in Oil & Gas   Singapore Feb. 6     Torch Mid-Winter Energy Conference  New York Feb. 7     Marine Construction 2002  Houston Feb. 10    2002 SPE International Petroleum Conference & Exhibition in Mexico  Villahermosa Feb. 26    2002 IADC/SPE Drilling Conference and Exhibition   Dallas Feb. 27    Human Resources in Oil & Gas  Aberdeen Mar. 10    AAPG! Annual Meeting  Houston Apr. 9     2002 SPE/ICoTA Coiled Tubing Conference and Exhibition  Houston May. 6     Offshore Technology Conference 2002  Houston Aug. 27    ONS 2002 Conference and Exhibition  Stavanger  list your conference  view upcoming events      [IMAGE]    [IMAGE]    [IMAGE] [IMAGE]  INTEC  Horizon Offshore  Global Completion Service  HoverDril  DataLog      [IMAGE]   promote your company      [IMAGE] [IMAGE]  [IMAGE]  IADC Deepwater Well Control Guidelines  [IMAGE] [IMAGE]  Petroleum Production in Nontechnical Language, 2nd Edition  [IMAGE] [IMAGE]  ! Primer of Oilwell Service, Workover, and Completion  [IMAGE]  [IMAGE]   [IMAGE]   more products   [IMAGE]      [IMAGE] [IMAGE]  featured equipment: Dreco 1000 UE  Land Rigs  [IMAGE]   Ideco H-35  DD Drive-in Rig   [IMAGE]   [IMAGE]   [IMAGE]   more equipment      [IMAGE] [IMAGE]   featured jobs:  - Structural Designer  - Sales Representative / Account Manager  - Experienced Project Mngrs/Engineers; Cost Engrs/Estimators   more hot jobs >>   featured candidates:  - Experienced International Driller  - Sr. Material Coordinator  - Business Development Manager   search for candidates >>   [IMAGE]   [IMAGE]     [IMAGE] [IMAGE]   Drillships:  To 5000':   50.0% (7/14) +5000':   100.0% (25/25)  Semisubs:  2nd Gen:   67.1% (49/73) 3rd Gen:  82.0% (41/50) 4th Gen:   100.0% (38/38) 5th Gen:   100.0% (7/7)  Jackups:  To 200':   56.7%  (38/67) 200' MC:   54.2% (13/24) 200' MS:   14.3% (3/21) 300' IC:   87.5% (84/96) +300' IC:   88.9% (48/54) Severe Env.:   81.0% (17/21)  [IMAGE]   [IMAGE]   view complete utilization report      [IMAGE] [IMAGE]  Light Crude Oil:  $21.48/BBL  (-0.60%) Brent Crude Oil:  $21.97/BBL  (-4.40%) Natural Gas:  $3.24/MMBtu  (47.27%) Unleaded Gasoline:  $0.57/gal  (-9.52%) prices from:  1/7/2002 change since:  1/4/2002  [IMAGE]   [IMAGE]    [IMAGE] 	[IMAGE]		
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