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	Monday
March 18, 2002	 <http://www.sgievent.com/upstream/> 		
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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 Continues Output Cuts <http://www.rigzone.com/news/article.asp?a_id=2855>
OPEC agreed on Friday to keep a cap on oil output for three months. 

Norway To Halt Production at Some Fields to Meet Quota <http://www.rigzone.com/news/article.asp?a_id=2849>
Norway will have to halt production at some of its fields and reduce output at others to avoid going over the limit promised to OPEC for the first quarter.

Pemex Awards Pride Long-Term Contracts <http://www.rigzone.com/news/article.asp?! a_id=2846>
Pride International, Inc. has been awarded contracts for three of its Gulf of Mexico jackups by Petroleos Mexicanos S.A.

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Landmark Graphics Releases SpecDecomp 

Landmark Graphics Corporation has released SpecDecomp(TM), a new, innovative reservoir imaging and interpretation technology solution. SpecDecomp provides greater resolution of reservoir boundaries, heterogeneities and thickness than previously possible with traditional broadband seismic displays. For more information click here <http://www.rigzone.com/news/!>.

	

Exploration	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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Ramco Awarded Bulgarian Exploration License <http://www.rigzone.com/news/article.asp?a_id=2852>
Ramco Energy has been awarded a new exploration license for the B-Golitza Block located in eastern Bulgaria.

Shell Announces Discovery Offshore Norway <http://www.rigzone.com/news/article.asp?a_id=2851>
Shell has hit hydrocarbons in Jurassic sandstones in exploration well 6406/5-1 offshore Norway.

CNOOC Updates Exploration Efforts <http://www.rigzone.com/news/article.asp?a_id=2848>
In 2002, CNOOC Limited plans to drill a total of approximately 40 wells, while its PSC partners plan to drill between 20 to 40 wells.

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Production	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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Second Section of Blue Stream Pip! eline Underway <http://www.rigzone.com/news/article.asp?a_id=2854>
Construction work on the second unit of the underwater section of the Blue Stream pipeline from Russia to Turkey has begun in the Black Sea.

Centennial Pipeline to be Operational by April 1 <http://www.rigzone.com/news/article.asp?a_id=2847>
Centennial announced its interstate pipeline is targeted for full operation by April 1.

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Company & Financial News	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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Friede Goldman Halter Signs Contract to Sell Friede & Goldman, Ltd Division <http://www.rigzone.com/news/article.asp?a_id=2856>
Friede Goldman Halter, Inc. has entered into an agreement with FGL Acquisitions to acquire the assets and activities of Friede & Goldman, Ltd. for $8 million.

Edinburgh To Raise Capital for Buzzard Development Work <http://www.rigzone.com/news/article.asp?a_id=2853>
Edinburgh Oil & Gas p! lans to raise GBP 5.8 million through a share placement, primarily to fund ongoing development work on the Buzzard Field located in the North Sea. 

Kerr-McGee Increases 2002 Budget by 15% <http://www.rigzone.com/news/article.asp?a_id=2850>
Kerr-McGee Corp. has increased its capital budget for exploration and production development projects by 15%, or $120 million, to approximately $900 million.

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Last 7 Days Top Stories	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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Aker Kvaerner Launches New Company <http://www.rigzone.com/news/article.asp?a_id=2806>
Today, Kvaerner launched a new company to be known as 'Aker Kvaerner' which will supply products, services, technology and solutions to the global oil and gas industry.

Tartan Commences 170 Well Drilling Program in California <http://www.rigzone.com/news/article.asp?a_id=2826>
Tartan! Energy Inc. announces a 170 development well, shallow reserve drilling program to commence in April 2002.

Rowan Gorilla V Contract Dispute is Resolved <http://www.rigzone.com/news/article.asp?a_id=2844>
Rowan Companies, Inc. reported that an agreement has been reached to resolve a dispute over the Rowan Gorilla V contract.

Newfield Hits in Gulf of Mexico <http://www.rigzone.com/news/article.asp?a_id=2803>
Newfield has made two discoveries in the Gulf of Mexico and expects production from these discoveries to commence by the end of this year.

Trinidad & Tobago Government Wants to Increase Royalties <http://www.rigzone.com/news/article.asp?a_id=2799>
The Trinidad and Tobago government wants to renegotiate an increase in gas royalties with BP which would dramatically increase state revenues.

Ensco 7500 Will Experience Downtime During 1Q 2002 <http://www.rigzone.com/news/article.asp?a_id=2814>
The semisub, Ensco 7500, will spend approximately 30 days in the shipyard during the 1st quarter of 2002 for repairs to her hull.

BHP Awards Contract for Angostura Development <http://www.rigzone.com/news/article.asp?a_id=2816>
BHP awards CSO Aker Engineering the FEED contract for development of its Angostura project offshore Trinidad.

In-Depth Systems Successfully Uses RFID Technology for Marathon Well <http://www.rigzone.com/news/article.asp?a_id=2824>
In-Depth Systems, Inc. has successfully proven its RFID technology for firing the perforation guns to complete a Marathon well in Alaska.

TotalFinaElf Acquires Block 34 in Oman <http://www.rigzone.com/news/article.asp?a_id=2830>
TotalFinaElf has signed an Exploration and Production Sharing Agreement with the Oman Ministry of Petroleum, taking a 100% interest as operator in Block 34.

Agip to Begin Exploration of Second Block in the Caspian Sea <http://www.rigzone.com/news/article.asp?a_id=28! 45>
An Agip-led consortium led said it would begin exploratory drilling of another offshore block in the Caspian Sea.

Chiles Discovery Christened in Singapore  <http://www.rigzone.com/news/article.asp?a_id=2810>
The Chiles Offshore new-build jackup, Chiles Discovery was christened at the Keppel FELS shipyard in Singapore this past weekend.

PDVSA Employees Begin Work Delay <http://www.rigzone.com/news/article.asp?a_id=2812>
Monday PDVSA employees started a work slowdown aimed at operations, a spokesman for protesting executives and workers said.

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The SGI Energy Summit 2002 - Visualizing the Future
 <http://www.sgievent.com/upstream/> Hear what leaders of top corporations, crucial software providers, and key policy makers have to say about the impact of advanced technology on the future of our industry. This summit promises to fish for all the critical answers to this industry's future success. To learn more, click here! <http://www.sgievent.com/upstream/>	

	

Upcoming Oil & Gas Industry Events	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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Mar. 17 	Oil Field Chemistry Symposium - 13th International <http://www.rigzone.com/news/event_detail.asp?event_id=224>	Geilo	
Mar. 20 	LNG North America <http://www.rigzone.com/news/event_detail.asp?event_id=201>	Houston	
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. 7 	CORROSION/2002 <http://www.rigzone.com/news/event_detail.asp?event_id=254>	Denver	
Apr. 9 	2002 SPE/ICoTA Coiled Tubing Conference and Exhibition <http://www.rigzone.com/news/event_detail.asp?event_id=41>	Houston	
May. 1 	Nigeria Oil & Gas 2002 <http://www.rigzone.com/news/event_detail.asp?event_id=256>	London	
May. 6 	Offshore Technology Conference 2002 <http://www.rigzone.com/news/event_detail.asp?event_id=31>	Houston	
May. 21 	Oil and Gas in the Gulf of Guinea <http://www.rigzone.com/news/event_detail.asp?event_id=263>	London	
Jun. 23 	Ocean Mechanics and Arctic Engineering 2002 <http://www.rigzone.com/news/event_detail.asp?event_id=219>	Oslo	
Aug. 27 	ONS 2002 Conference and Exhibition <http://www.rigzone.com/news/event_detail.asp?event_id=80>	Stavanger	
list your conference <http://www.rigzone.com/news/post_event.asp?action=INS! ERT>	view upcoming events <http://www.rigzone.com/news/event_home.asp>	
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  <http://www.rigzone.com/images/spacer.gif>	featured equipment:	
National 1320 UE (Partial Rig) <http://www.rigzone.com/market/surplus_listing.asp?eq_id=423>	
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4 1/2-inch 19.2 Lbs Pipe <http://www.rigzone.com/market/surplus_listing.asp?eq_id=438>	
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  <http://www.rigzone.com/images/spacer.gif>	featured jobs: 	
-	Control System Specialist <http://www.rigzone.com/jobs/job_posting.asp?p_id=627>	
-	Production Superintendent <http://www.rigzone.com/jobs/job_posting.asp?p_id=1094>	
-	Seismic Processing Specialist <http://www.rigzone.com/jobs/job_posting.asp?p_id=1095>	
more hot jobs >> <http://www.rigzone.com/jobs/hot_jobs.asp>	
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-	Experienced Petroleum Engineer  <http://www.rigzone.com/jobs/resume.asp?r_id=11495>	
-	Drilling Consultant <http://www.rigzone.com/jobs/resume.asp?r_id=11481>	
-	Senior Drilling Engineer <http://www.rigzone.com/jobs/resume.asp?r_id=11521>	
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  <http://www.rigzone.com/images/email/title_tab_RigUtil.gif>	
  <http://www.rigzone.com/images/spacer.gif>	Drillships:	
To 5000': 	57.1%	(8/14)	
+5000': 	96.0%	(24/25)	
Semisubs:	
2nd Gen: 	66.7%	(48/72)	
3rd Gen: 	82.0%	(41/50)	
4th Gen: 	94.7%	(36/38)	
5th Gen: 	85.7%	(6/7)	
Jackups:	
To 200': 	56.1%	(37/66)	
200' MC: 	45.8%	(11/24)	
200' MS: 	19.0%	(4/21)	
300' IC: 	89.6%	(86/96)	
+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: 	$24.51/BBL 
(-0.49%)	
Brent Crude Oil: 	$24.55/BBL 
(2.04%)	
Natural Gas: 	$3.07/MMBtu 
(2.68%)	
Unleaded Gasoline: 	$0.81/gal 
(1.25%)	
prices from: 	3/15/2002	
change since: 	3/14/2002	
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