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	Tuesday
February 19, 2002	 <http://oad.realmedia.com/RealMedia/ads/click_nx.ads/UMUK_Rigzone.WeeklyNewsletter/THURAYA01_RIGWNMW02/102150216415210> 		
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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 Holds Output Steady <http://www.rigzone.com/news/article.asp?a_id=2648>
OPEC output levels are likely to remain the same throughout 2002 if there are no important changes in fundamentals or politics.

ONGC Still Wrangling Over Offshore Fields <http://www.rigzone.com/news/article.asp?a_id=2646>
ONGC is adamant about securing operatorship of three offshore fields it holds jointly with Enron Oil and Gas India Ltd.

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Exploration	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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Tesco Awarded Algerian Drilling Contract <http://www.rigzone.com/news/article.! asp?a_id=2645>
The Company has entered into an agreement with Steppe Forage, a major Algerian water well drilling contractor, to Casing Drill(TM) six water wells in western Algeria.

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Production	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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BP Announces GOM Pipeline Construction Plans <http://www.rigzone.com/news/article.asp?a_id=2653>
BP announced plans for the construction of three large-diameter crude oil pipelines to transport oil from the company's major discoveries in the deepwater Gulf of Mexico.

AOC and Kuwait Finalize Deal in March <http://www.rigzone.com/news/article.asp?a_id=2652>
Kuwait will finalize a deal in March with Japan's Arabian Oil Co Ltd on its role in Neutral Zone oil production after a 40-year concession expires in January 2003.

Jade Field Start-Up Delayed <http://www.rigzone.com/news/article.asp?! a_id=2651>
Phillips Petroleum has delayed the start-up of the Jade Field in the UK North Sea until late February. 

Braemer Field Not Expected Onstream This Year <http://www.rigzone.com/news/article.asp?a_id=2647>
Marathon's Braemar gas and condensate field in the North Sea is unlikely to go onstream as scheduled in 2002.

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Company & Financial News	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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ExxonMobil Signs MOU with Papua New Guinea Government <http://www.rigzone.com/news/article.asp?a_id=2650>
Exxon Mobil Corporation has signed a MOU with the Government of PNG on the terms and conditions for developing and producing more than 6 trillion cubic feet of natural gas resources in the Southern Highlands of PNG.

Keppel Awarded Rig Upgrade Contract <http://www.rigzone.com/news/article.asp?a_id=2649>
! Keppel FELS Ltd has been awarded a $30 million rig upgrade contract by GlobalSantaFe.

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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.

ExxonMobil Expects to Begin Work at Sakhalin in October <http://www.rigzone.com/news/article.asp?a_id=2600>
Exxon Neftegas, operator of Russia's Sakhalin-I oil and gas field, will begin drilling operations in two offshore deposits in October of this year.

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.

Ottawa Could Open Coast to Offshore Drilling <http://www.rigzone.com/news/article.asp?a_id=2624>
Ottawa officials said they are prepared to consider a proposal to remove the long-standing moratorium on offshore oil and gas drilling in British Columbia.

El Paso Pulls The Trigger on Major GOM Pipeline <http://www.rigzone.com/news/article.asp?a_id=2618>
El Paso Energy Partners, L.P. will build and operate the Cameron Highway Oil Pipeline System, a major new 380-mile oil pipeline in the Gulf of Mexico.

Russian Environmentalists Seeking Sakhalin Drilling Ban <http://www.rigzone.com/news/article.asp?a_id=2639>
A Moscow court will hear a lawsuit in April filed by Russian environmental groups seeking to ban oil and gas projects off Sakhalin island in the Russian Far East.

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. 

PanCanadian Drills Another Duster <http://www.rigzone.com/news/article.asp?a_id=2623>
PanCanadian drills its third duster offshore eastern Canada.

Amerada Hess Resumes Production at Ceiba <http://www.rigzone.com/news/article.asp?a_id=2616>
Amerada Hess Corporation announced that the Ceiba Field offshore Equatorial Guinea resumed oil production in late January and is now flowing at rates in excess of 50,000 barrels of oil per day.

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 s! hare) in the prior year.

Brunei Creates New State-Owned Oil Company <http://www.rigzone.com/news/article.asp?a_id=2634>
Brunei is set to play a bigger role in the global oil and gas scene under the newly established state-owned PetroleumBRUNEI.

Prosafe acquires the Polyconcord <http://www.rigzone.com/news/article.asp?a_id=2633>
Prosafe ASA has entered into an agreement with K/S Rasmussen Offshore A/S for the purchase of the semisubmersible accommodation and service rig Polyconcord.

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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 Conference 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	
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Petrophysics: Theory and Practice of Measuring Reservoir Rock and Fluid Properties <http://www.rigzone.com/store/product.asp?p_id=309>	
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  <http://www.rigzone.com/images/spacer.gif>	featured equipment:	
Cabot 250 Workover and Drilling Rig  <http://www.rigzone.com/market/surplus_listing.asp?eq_id=401>	
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Gardner Denver 1100 SCR Rig <http://www.rigzone.com/market/surplus_listing.asp?eq_id=433>	
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  <http://www.rigzone.com/images/spacer.gif>	featured jobs: 	
-	Operations Superintendent <http://www.rigzone.com/jobs/job_posting.asp?p_id=901>	
-	I&E Technicians/ Overseas Offshore Platform <http://www.rigzone.com/jobs/job_posting.asp?p_id=1036>	
-	Service Manager <http://www.rigzone.com/jobs/job_posting.asp?p_id=1061>	
more hot jobs >> <http://www.rigzone.com/jobs/hot_jobs.asp>	
featured candidates: 	
-	Commissioning Engineer <http://www.rigzone.com/jobs/resume.asp?r_id=10826>	
-	Senior Instrument Engineer <http://www.rigzone.com/jobs/resume.asp?r_id=10815>	
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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: 	70.8%	(51/72)	
3rd Gen: 	86.0%	(43/50)	
4th Gen: 	100.0%	(38/38)	
5th Gen: 	85.7%	(6/7)	
Jackups:	
To 200': 	55.2%	(37/67)	
200' MC: 	50.0%	(12/24)	
200' MS: 	14.3%	(3/21)	
300' IC: 	90.6%	(87/96)	
+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: 	$21.50/BBL 
(0.00%)	
Brent Crude Oil: 	$20.86/BBL 
(0.00%)	
Natural Gas: 	$2.20/MMBtu 
(0.00%)	
Unleaded Gasoline: 	$0.61/gal 
(0.00%)	
prices from: 	2/15/2002	
! change since: 	2/15/2002	
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