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	Wednesday
February 13, 2002	iOTC <http://www.iotcnet.org> 		
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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

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Worldwide Offshore Rig Utilization
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Industry Headlines	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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Statoil Seeks Closer Ties with Saudi Arabia <http://www.rigzone.com/news/article.asp?a_id=2613>
Norwegian Oil Minister Einar Steensnaes said Statoil was seeking a role in Saudi Arabia's natural gas sector.

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Exploration	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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Shell Estimates Large Gas Reserves Offshore Namibia <http://www.rigzone.com/news/article.asp?a_id=2612>
Shell hopes to raise ! proven reserves at its Kudu gas field in Namibia from the current 1.3 trillion cubic feet to 5 trillion cubic feet by the third quarter of 2002.

Energy Africa Acquires Stake in Block 2 Offshore Mauritania <http://www.rigzone.com/news/article.asp?a_id=2611>
Energy Africa Limited Mauritania Limited has reached an agreement with Woodside Petroleum, Hardman Petroleum and Roc Oil whereby it will acquire a 20% interest in Block 2 offshore Mauritania.

Mitsubishi Awarded Block Offshore Brunei <http://www.rigzone.com/news/article.asp?a_id=2610>
Mitsubishi Corp has been awarded gas exploration rights to Brunei's offshore Block K together with Royal Dutch/Shell and Conoco Inc.

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Production	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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Mission Increases Reserves by 113% <http://www.rigzone.com/news/article.asp?a_id=2609>
Mission Resources Corpor! ation announced that its 2001 proved crude oil and natural gas reserves increased 113 percent to 67.3 million barrels of oil equivalent (MMBOE).

Matrix To Re-Enter Langsa Well For Repairs <http://www.rigzone.com/news/article.asp?a_id=2607>
Matrix will use a semisub to re-enter the L1 well to repair the leak which has increased to the point where engineers have had to shut-in the well.

FMC Lands Gunnison Subsea Work <http://www.rigzone.com/news/article.asp?a_id=2605>
FMC Energy Systems business has been chosen by Kerr-McGee Corp. to provide subsea trees and associated services for the Gunnison field area project in the deepwater Gulf of Mexico.

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Company & Financial News	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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Chiles Announces 4Q 2001 Results <http://www.rigzone.com/news/article.asp?a_id=2614>
For the quarter ended December 31, ! 2001, the Company reported net income of $7.6 million or $0.38 per diluted share compared to net income of $4.4 million or $0.25 per diluted share reported for the corresponding quarter ended December 31, 2000.

Dolphin Energy Awards Survey Contracts to Fugro <http://www.rigzone.com/news/article.asp?a_id=2608>
Fugro has won four separate contracts for surveys and environmental studies for a multi-billion-dollar project to deliver Qatari gas abroad from Dolphin Energy.

Norwegian Authorities Approve Aker/Kvaerner Merger <http://www.rigzone.com/news/article.asp?a_id=2606>
The proposed merger of Aker Maritime and Kvaerner has been approved "without reservations" by Norway's competition authority.

National Oilwell Posts 2001 Record Revenues and Net Income <http://www.rigzone.com/news/article.asp?a_id=2604>
National-Oilwell, Inc. reported 2001 revenues and net income of $1747.5 million and $104.1 million ($1.27! per diluted share), up from $1149.9 million and $13.1 million ($0.16 per diluted share) in the prior year.

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Last 7 Days Top Stories	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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Conoco and Tesco Unveil Revolutionary Drilling Rig <http://www.rigzone.com/news/article.asp?a_id=2603>
Conoco and Tesco Corporation have jointly announced plans to construct three revolutionary drilling rigs using Tesco's proprietary Casing Drilling(TM) technology.

Reliance Begins Major Exploration Program Offshore India <http://www.rigzone.com/news/article.asp?a_id=2591>
Reliance Industries will begin its ambitious three-year, $350 million offshore oil and gas exploration program in April of this year.

Vanco Awarded Acreage Offshore Equatorial Guinea <http://www.rigzone.com/news/article.asp?a_id=2563>
Vanco Energy has been awarded a 10% interest in Bloc! k N offshore Equatorial Guinea.

ChevronTexaco Announces 2002 Spending Budget <http://www.rigzone.com/news/article.asp?a_id=2568>
ChevronTexaco Corp. is reducing its capital spending this year by 22 percent from 2001 due mainly to merger-related efficiencies.

CNR Turns On the Tap At Espoir Field Offshore Cote d'Ivoire <http://www.rigzone.com/news/article.asp?a_id=2573>
Canadian Natural Resources Limited announces that oil production from the Espoir Field, offshore Cote d'Ivoire, Africa, commenced on February 4, 2002 at 8,500 barrels per day.

PDVSA Begins 3 Year Offshore Exploration Program <http://www.rigzone.com/news/article.asp?a_id=2569>
PDVSA's justlaunched a three-year, $375 million offshore natural gas exploration program in the Atlantic near the Deltana platform area.

McMoRan Sells Main Pass 299 Facilities to OFS <http://www.rigzone.com/news/article.asp?a_id=2582>
McMoRan Ex! ploration Co. has made an agreement to convey all of FSC's rights, title and interest in its Main Pass 299 sulphur and oil and gas leases and facilities to Offshore Specialty Fabricators, Inc. 

Halliburton To Provide Its Services To Russia <http://www.rigzone.com/news/article.asp?a_id=2595>
Halliburton International Inc. and Sibneft, signed an agreement that will give Halliburton the ability to deploy all of its product service lines to the Russian oil and gas market.

Transocean Sedco Forex Announces 2001 Results <http://www.rigzone.com/news/article.asp?a_id=2559>
Transocean Sedco Forex Inc. reported a fourth-quarter profit after one-time charges pushed it to a loss in the same period of 2000.

Unocal Secures OPIC Funds <http://www.rigzone.com/news/article.asp?a_id=2558>
OPIC will be providing support of up to $350 million in OPIC financing for two of Unocal's offshore oil and natural gas projects in Indo! nesia. 

Hugo Chavez Appoints New Head of PDVSA <http://www.rigzone.com/news/article.asp?a_id=2594>
President Hugo Chavez on Saturday appointed Gaston Parra as head of state oil company PDVSA. 

Hunt Awards Camisea Project to KBR <http://www.rigzone.com/news/article.asp?a_id=2588>
Hunt Oil Company has signedan agreement with Kellogg Brown & Root to conduct a Front End Engineering Design study for the Camisea LNG project.

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Upcoming Oil & Gas Industry Events	  <http://www.rigzone.com/images/ema! il/title_Corner.gif>	
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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. 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. 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 Conf! erence 2002 <http://www.rigzone.com/news/event_detail.asp?event_id=31>	Houston	
Jun. 23 	Ocean Mechanics and Arctic Engineering 2002 <http://www.rigzone.com/news/event_detail.asp?event_id=219>	Oslo	
list your conference <http://www.rigzone.com/news/post_event.asp?action=INSERT>	view upcoming events <http://www.rigzone.com/news/event_home.asp>	
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D & D Standard Oil Abbreviator, 4th Edition <http://www.rigzone.com/store/product.asp?p_id=140>	
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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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Ambar Marine 26' Fast Rescue Boats <http://www.rigzone.com/market/surplus_listing.asp?eq_id=419>	
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  <http://www.rigzone.com/images/spacer.gif>	fe! atured jobs: 	
-	Senior Electronics Design Engineer  <http://www.rigzone.com/jobs/job_posting.asp?p_id=1054>	
-	Sand Control Operators Job Code 4837 <http://www.rigzone.com/jobs/job_posting.asp?p_id=895>	
-	FPSO Operations Superintendent <http://www.rigzone.com/jobs/job_posting.asp?p_id=1051>	
more hot jobs >> <http://www.rigzone.com/jobs/hot_jobs.asp>	
featured candidates: 	
-	Offshore Drilling Management <http://www.rigzone.com/jobs/resume.asp?r_id=2634>	
-	International Materials and Accounting Consultant <http://www.rigzone.com/jobs/resume.asp?r_id=10709>	
-	Senior Instrument Technician <http://www.rigzone.com/jobs/resume.asp?r_id=10697>	
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  <http://www.rigzone.com/images/spacer.gif>	Drillships:	
To 5000': 	57.1%	(8/14)	
+5000': 	96.0%	(24/25)	
Semisubs:	
2nd Gen: 	70.8%	(51/72)	
3rd Gen: 	84.0%	(42/50)	
4th Gen: 	100.0%	(38/38)	
5th Gen: 	85.7%	(6/7)	
Jackups:	
To 200': 	53.7%	(36/67)	
200' MC: 	50.0%	(12/24)	
200' MS: 	14.3%	(3/21)	
300' IC: 	89.6%	(86/96)	
+300' IC: 	96.3%	(52/54)	
Severe Env.: 	90.5%	(19/21)	
	
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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: 	$20.57/BBL 
(-3.38%)
Brent Crude Oil: 	$20.45/BBL 
(-4.44%)	
Natural Gas: 	$2.29/MMBtu 
(0.00%)	
Unleaded Gasoline: 	$0.59/gal 
(-3.28%)	
prices from: 	2/12/2002	
change since: 	2/11/2002	
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