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	Thursday
February 14, 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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Industry Headlines	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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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-mil! e oil pipeline in the Gulf of Mexico.

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

Partners Shelve the Hebron-Ben Nevis Project Offshore Canada <http://www.rigzone.com/news/article.asp?a_id=2620>
Chevron Canada Resources along with its joint venture partners ExxonMobil Canada, Norsk Hydro Canada Oil & Gas, and Petro-Canada have decided to discontinue the joint evaluation of the Hebron project.

Apache Scores Offshore Australia <http://www.rigzone.com/news/article.asp?a_id=2617>
Continuing its successful Flag Sandstone exploration program in the Carnarvon Basin offshore Western Australia, Apache Corporation reported its fourth commercial discovery there in the last 12 months.

Fortum Sells Omani Assets <http://www.rigzone.com/news/article.asp?a_id=2615>
Fortum has signed an agreement to sell its 35% interest in the Suneinah concession, Block 9, and associated gas explor! ation and production rights in Oman.

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Production	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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EOG sells Irish Sea Interest <http://www.rigzone.com/news/article.asp?a_id=2621>
Edinburgh Oil & Gas has sold its 13.2 percent interest in License P543 to First oil Expro for ?1.5 million.

BHP Billiton Approves Mad Dog Development <http://www.rigzone.com/news/article.asp?a_id=2619>
BHP Billiton has approved the development of its Mad Dog oil and gas discovery in the ultra-deepwater Green Canyon area of the Gulf of Mexico.

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.

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Company & Financial News	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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Baker Energy Appoints New Vice President <http://www.rigzone.com/news/article.asp?a_id=2622>
Stephen P. Roan has been named vice president of operations for Baker Energy.

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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.

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.

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.

McMoRan Sells Main Pass 299 Facilities to OFS <http://www.rigzone.com/news/article.asp?a_id=2582>
McMoRan Exploration 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. 

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.

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.

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.

Magnum Hunter Outlines Plans for Gulf of Mexico Exploration <http://www.rigzone.com/news/article.asp?a_id=2574>
The Company has made plans to participate in a minimum of seven exploration wells in the GOM during 2002.

Two Major Oil Fields Discovered in Columbia <http://www.rigzone.com/news/article.asp?a_id=2592>
Joint-venture partners of Colombia's Ecopetrol have found two new oil fields in eastern and southern Colombia with reserves of about 100 million barrels each.

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Feb. 26 	2002 IADC/SPE Drilling Conference and Exhibition 	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 Tu! bing 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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  <http://www.rigzone.com/images/spacer.gif>	featured equipment:	
Ideco BIR 305 <http://www.rigzone.com/market/surplus_listing.asp?eq_id=429>	
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National 110 M <http://www.rigzone.com/market/surplus_listing.asp?eq_id=432>	
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  <http://www.rigzone.com/images/spacer.gif>	featured jobs: 	
-	Operations Support Engineer <http://www.rigzone.com/jobs/job_posting.asp?p_id=1058>	
-	Marketing and Sales Manager <http://www.rigzone.com/jobs/job_posting.asp?p_id=1059>	
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more hot jobs >> <http://www.rigzone.com/jobs/hot_jobs.asp>	
featured candidates: 	
-	HSE Coordinator <http://www.rigzone.com/jobs/resume.asp?r_id=10733>	
-	Financial and Commercial Controller <http://www.rigzone.com/jobs/resume.asp?r_id=10736>	
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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: 	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_OilPric! es.gif>	
  <http://www.rigzone.com/images/spacer.gif>	Light Crude Oil: 	$21.23/BBL 
(3.21%)	
Brent Crude Oil: 	$20.70/BBL 
(1.22%)	
Natural Gas: 	$2.25/MMBtu 
(-1.75%)	
Unleaded Gasoline: 	$0.60/gal 
(1.69%)	
prices from: 2/13/2002	
change since: 	2/12/2002	
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