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	Thursday January 17, 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]       UK's 20th Licensing Round Open for Bids  The UK's 20th licensing round opens up almost 300 offshore blocks.  African Oil Workers Launch General Strike  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  A hydrogen sulfide gas leak was discovered on Shell's Brent C Platform in the UK North Sea last night.     [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            Exploration [IMAGE]      [IMAGE]     [IMAGE]  Marathon Drills Two Dusters in Gulf of Mexico  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  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  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  Gale Norton, Secretary of the Interior, announced that oil and gas companies drilling in! Gulf of Mexico deepwater will be given royalty reductions.    [IMAGE]   [IMAGE]       Production [IMAGE]      [IMAGE]     [IMAGE]  Buzzard Boosts PanCandian's North Sea Reserves  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  Iran is close to finalizing development plans for the Foroozan-Esfyandar fields offshore Iran.  Production Restarted at Argyll Field  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  The FERC gave final approval to the U.S. segment of the North Baja Pipeline project.    ! [IMAGE]   [IMAGE]       Company & Financial News [IMAGE]      [IMAGE]     [IMAGE]  Capco Acquires Energy Reserves Group  Capco Energy, Inc. has signed an agreement to acquire all outstanding shares of Houston-based Energy Reserves Group.    [IMAGE]   [IMAGE]  advertisement   [IMAGE] 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.            Last 7 Days Top Stories [IMAGE]      [IMAGE]     [IMAGE]  Former Enron Execs Start New Company  Several former Enron senior executives have formed a new company to provide risk management services to the energy industry.  Torch Offshore Purchases Construction Vessel   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  Anadarko Petroleum Corporation outlines its expectations for capital spending for 2002 and offers guidance on 2001 financial and operating results.  Devon Hits Offshore Brazil  Devon Energy has made a discovery in the shallow waters of Campos Basin offshore Brazil.  National-Oilwell Acquires HALCO  National-Oilwell has acquired HAL Oilfield Pump & Equipment Company.  Anderson Employees Destroy Enron Documents  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  FMC will provide Petrobras with three deepwater solutions with a contract value of approximately $17 million.  Novus Petroleum Hits in the Gulf of Mexico  The La Playa-1 well in the western Gulf of Mexico offshore Padre Island has discovered natural gas.  Kongsberg Awarded Crazy Horse Project  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  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  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  Statoil has sold its first load of crude - one million barrels - from the TotalFinaElf-operated Girassol field offshore Angola.    [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 & E! xhibition in Mexico  Villahermosa Feb. 26    2002 IADC/SPE Drilling Conference and Exhibition   Dallas Feb. 26    Offshore Oil and Gas Safety Seminars  Aberdeen Feb. 27    Human Resources in Oil & Gas  Aberdeen Mar. 10    AAPG Annual Meeting  Houston Mar. 20    LNG North America  Houston Apr. 9     2002 SPE/ICoTA Coiled Tubing Conference and Exhibition  Houston  list your conference  view upcoming events   [IMAGE]   [IMAGE]    [IMAGE]    [IMAGE] [IMAGE]  Horizon Offshore  Global Completion Service HoverDril  Baker Hughes   [IMAGE]   [IMAGE]   pr! omote your company      [IMAGE] [IMAGE]  [IMAGE]  2001 U.S. Offshore Oil Company Directory  [IMAGE] [IMAGE]  Decision Analysis for Petroleum Exploration, 2nd Ed.  [IMAGE] [IMAGE]  Environmental Impact of the Offshore Oil and Gas Industry  [IMAGE]  [IMAGE] [IMAGE]     more products      [IMAGE] [IMAGE]  featured equipment: Wartsila Generator Sets  [IMAGE]   BOP Closing Units  [IMAGE]   [IMAGE]   [IMAGE]   more equipment    [IMAGE]   [IMAGE]   featured jobs:  - Production Operator  - Construction Engineer  - Senior Pipeline Engineer   ! more hot jobs >>   featured candidates:  - Field Geologist & Software Engineer  - Commissioning Operator  - Geological Oil and Gas Database Support Specialist   search for candidates >>   [IMAGE]   [IMAGE]     [IMAGE] [IMAGE]   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)  [IMAGE]   [IMAGE]   view complete utilization report      [IMAGE] [IMAGE]  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  [IMAGE]   [IMAGE]    [IMAGE] 	[IMAGE]		
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