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	Tuesday January 15, 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]       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.  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.    [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]  Gazprom To Develop Northern Gas Fields  Gazprom has plans to develop new natural gas fields in the far north Yamal region of Russia.  Petronas and Bahrain Develop Offshore Exploration Program  Petronas and Bahraini officals met over the weekend to discuss a program for drilling offshore Bahrain.    [IMAGE]   [IMAGE]       Production [IMAGE]      [IMAGE]     [IMAGE]  ExxonMobil Sells Qatari Gas to Kuwait  ExxonMobil, Kuwait Petroleum Corporation and Qatar Petroleum have reached agreement in principle on key terms to supply Kuwait with Qatari gas.  Statoil To Prepare Development Study For Iran  Statoil has been tapped by the IOC to prepare a comprehensive development plan to ! boost production from three Iranian fields in southwest Iran.    [IMAGE]   [IMAGE]       Company & Financial News [IMAGE]      [IMAGE]     [IMAGE]  Talisman Expects to Spend $2 Billion in 2002  Talisman's 2002 budget for exploration and development is $2 billion which is a 6% increase over the 2001 budget.  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.  Compass Signs Preferred Supplier Agreement with ChevronTexaco  ChevronTexaco and Compass Group sign the industry's largest catering agreement valued at $200 million per year.   !  [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]  BP Scales Back Alaskan Operations  BP has decided to downsize its staff in Anchorage and shelve its Liberty project at this time.  PetroChina and Shell Sign Gas Pipeline Deal  PetroChina and Shell have entered into a preliminary agreement for an $18 billion East/West China pipeline project.  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.  Houston Exploration Completes Acquisition  Houston Exploration finalizes South Texas property acquisition from Conoco for $69 million.  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  Devon Hits Offshore Brazil  Devon Energy has made a discovery in the shallow waters of Campos Basin offshore Brazil.  Petrobras Awards FMC $17 Million Contract  FMC will provide Petrobras with three deepwater solutions with a contract value of approximately $17 million.  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.  Kerr-McGee Announces 2002 Capital Budget  Kerr-McGee to allocate $! 310 million of its 2002 exploration and production budget for the North Sea.  National-Oilwell Acquires HALCO  National-Oilwell has acquired HAL Oilfield Pump & Equipment Company.  Malaysia, Indonesia & Vietnam Enter Joint Venture   The national oil companies of Malaysia, Indonesia and Vietnam have signed a joint venture agreement to explore for oil offshore Vietnam.  Jacobs Joins NAM Consortium  Jacobs Engineering has been awarded formal approval to become a member of the NAM Consortium.    [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. 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  DataLog  Baker Hughes   [IMAGE]   [IMAGE]   promote your company      [IMAGE] [IMAGE]  [IMAGE]  Environmental Impact of the Offshore Oil and Gas Industry   [IMAGE]  !  [IMAGE]  Elements of 3-D Seismology  [IMAGE]  [IMAGE]  Interactive Drilling for Fast Track Oilfield Development   [IMAGE]   [IMAGE]   [IMAGE]   more products      [IMAGE] [IMAGE]  featured equipment: Wartsila Generator Sets  [IMAGE]   Self-Contained Platform Rig  [IMAGE]   [IMAGE]   [IMAGE]   more equipment    	
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[IMAGE]	  featured jobs:  - Technical Sales  - Piping Designer   - Structural Engineer  more hot jobs >>    featured candidates:  - Drilling Manager, Senior Drilling Engineer  - Purchasing, Logistics and Materials Management  - Experienced Professional in Oil & Gas Drilling   search for candidates >>  	[IMAGE]			
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[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]	
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		view complete utilization report 	


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[IMAGE]	 Light Crude Oil:  $19.01/BBL  (-3.40%) Brent Crude Oil:  $19.77/BBL  (-4.26%) Natural Gas:  $2.26/MMBtu  (2.73%) Unleaded Gasoline:  $0.55/gal  (-3.! 51%) prices from:  1/14/2002 change since:  1/11/2002 	[IMAGE]	
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