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	Tuesday
January 29, 2002	 <http://www.sonsub.com/> 		
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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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Kuwait Invites Bidders for Upstream Project <http://www.rigzone.com/news/article.asp?a_id=2495>
Kuwait Petroleum Corp. is requesting that more international companies bid for interest in its upstream oil development project in its Northern oilfields.

AEC and PanCanadian Confirms Merger Plans <http://www.rigzone.com/news/article.asp?a_id=2492>
Alberta Energy Company and PanCanadian join forces in a "merger of equals" that will create one of North America's larges! t independent energy companies.

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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	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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McMoRan Sells Certain Oil & Gas Assets <http://www.rigzone.com/news/article.! asp?a_id=2487>
McMoRan Exploration Co. has signed a definitive agreement to sell three of its oil and gas properties to a third party for $60 million. 

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Production	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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TotalFinaElf Starts-Up Desgas Project in Syria <http://www.rigzone.com/news/article.asp?a_id=2494>
The Desgas project establishes TotalFinaElf as a key gas industry player in Syria, where the Group already operates a production of around 50,000 barrels per day of oil in partnership with the SPC.

CNOOC Orders FPSO <http://www.rigzone.com/news/article.asp?a_id=2493>
CNOOC orders FPSO capable of handling 4.5 million tons of crude for its Fanyu Oilfield.

Unocal Replaces 222% of 2001 Production <http://www.rigzone.com/news/article.asp?a_id=2490>
Unocal Corporation said it replaced 2! 22 percent of its worldwide crude oil and natural gas production during 2001 with new proved reserves.

ExxonMobil Replaces 111% of Production <http://www.rigzone.com/news/article.asp?a_id=2489>
ExxonMobil Corporation announced that additions to its worldwide proved oil and gas reserves totaled 1.8 billion oil-equivalent barrels in 2001.

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Company & Financial News	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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Swift Completes Acquisition of New Zealand Assets <http://www.rigzone.com/news/article.asp?a_id=2491>
Swift Energy has completed the acquisition of Southern Petroleum for approximately US $54.4 million in cash.

Chinese Companies On Buying Spree <http://www.rigzone.com/news/article.asp?a_id=2488>
Chinese oil companies are in the market for investments to enhance shareholder value and boost supplies for domestic refineries.

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Last 7 Days Top Stories	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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Kvaerner Awarded Escravos FEED Contract <http://www.rigzone.com/news/article.asp?a_id=2463>
Kvaerner has been awarded the FEED work for the Escravos Gas Project Phase 3 by NNPC/Chevron.

Court Rules on Offshore Injury Case <http://www.rigzone.com/news/article.asp?a_id=2473>
United States Fifth Circuit Court of Appeals decides that wireline perforation used in drilling and capping wells is not "ultrahazardous".

Conoco Sets Budget for 2002 <http://www.rigzone.com/news/article.asp?a_id=2474>
Conoco to spend the majority of its $2.8 billion dollar budget on upstream operations in 2002.

Transocean Puts Two Rigs Back to Work <http://www.rigzone.com/news/article.asp?a_id=2448>
Transocean Sedco Forex Inc. has been awarded contracts for two high-specif! ication floating drilling rigs and has received a contract extension on a third high-specification floating drilling rig. 

Marathon Makes Discovery in Alaska <http://www.rigzone.com/news/article.asp?a_id=2460>
Marathon oil has made a significant discovery on its Ninilchik Prospect located approximately 35 miles south of Kenai, Alaska.

Bouygues/Saipem Awarded Algerian Contract <http://www.rigzone.com/news/article.asp?a_id=2457>
Sonatrach has awarded a joint venture of Saipem and Bouygues a $257 million oilfield development project in Algeria.

Shell Hits Offshore Nigeria <http://www.rigzone.com/news/article.asp?a_id=2455>
Shell Nigeria has made a significant discovery in the deep waters offshore Nigeria.

Kvaerner To Open New Umbilicals Facility <http://www.rigzone.com/news/article.asp?a_id=2471>
Kvaerner has decided to invest NOK 100 million in a new umbilicals production facility for the subsea segment of the oil and gas industry in the Gulf of Mexico or Houston area.

Westcoast Energy Reaches Milestone in Mexico <http://www.rigzone.com/news/article.asp?a_id=2447>
Westcoast Energy announced has reached a major milestone in the development of the Campeche Natural Gas Compression Services Project in Mexico.

Trident Appraisal Well Successful <http://www.rigzone.com/news/article.asp?a_id=2468>
Unocal Corporation said that it continues to be encouraged after successfully completing the first appraisal well at the Trident deepwater Gulf of Mexico discovery in Alaminos Canyon Block 903.

Pogo Plans Aggressive Capital Program in 2002 <http://www.rigzone.com/news/article.asp?a_id=2452>
Pogo's Board of Directors has approved a $340 million capital and exploration budget for 2002 and has planned an aggressive exploration and drilling schedule.

Unocal Installs Production Platform Offshore Indonesia <http://www.rigzone.com/news/article.asp?a_id=2450>
Unocal's Yakin field production platform was installed using a float over and ballast down technique resulting in a substantial cost and time savings for Unocal.

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Upcoming Oil & Gas Industry Events	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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Jan. 29 	NAPE Expo 2002 <http://www.rigzone.com/news/event_detail.asp?event_id=220>	Houston	
Feb. 6 	Torch Mid-Winter Energy Conference <http://www.rigzone.com/news/event_detail.asp?event_id=196>	New York	
Feb. 7 	Marine Construction 2002 <http://www.rigzone.com/news/event_detail.asp?event_id=166>	Houston	
Feb. 10 	2002 SPE International Petroleum Conference & Exhibition in Mexico <http://www.rigzone.com/news/event_detail.asp?event_id=35>	Villahermosa	
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. 20 	LNG North America <http://www.rigzone.com/news/event_detail.asp?event_id=201>	Houston	
Apr. 9 	2002 SPE/ICoTA Coiled Tubing Conference and Exhibition <http://www.rigzone.com/news/event_detail.asp?event_id=41>	Houston	
list your conference <http://www.rigzone.com/new! s/post_event.asp?action=INSERT>	view upcoming events <http://www.rigzone.com/news/event_home.asp>	
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Gulf of Mexico Oil and Gas Activity and Lease Map, 6th Ed. <http://www.rigzone.com/store/product.asp?p_id=49>	
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  <http://www.rigzone.com/images/spacer.gif>	featured eq! uipment:	
IDECO 3000HP Mechanical Land Rig <http://www.rigzone.com/market/surplus_listing.asp?eq_id=157>	
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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>	featured jobs: 	
-	Hydrographic Surveyor <http://www.rigzone.com/jobs/job_posting.asp?p_id=996>	
-	Account Rep - Business Development	
-	Well Site Geologist <http://www.rigzone.com/jobs/job_posting.asp?p_id=1005>	
more hot jobs >> <http://www.rigzone.com/jobs/hot_jobs.asp>	
featured candidates: 	
-	Planning & Scheduling Engineer  <http://www.rigzone.com/jobs/resume.asp?r_id=10314>	
-	Exp. Drlg. Consultant <http://www.rigzone.com/jobs/resume.asp?r_id=10083>	
-	Exploration Geophysicist & Seismic Acquisition QC <http://www.rigzone.com/jobs/resume.asp?r_id=10264>	
search for candidates >> <http://www.rigzone.com/jobs/search_resume.asp>	
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  <http://www.rigzone.com/images/email/title_tab_RigUtil.gif>	
  <http://www.rigzone.com/images/spacer.gif>	Drillships:	
To 5000': 	50.0%	(7/14)	
+5000': 	96.0%	(24/25)	
Semisubs:	
2nd Gen: 	69.9%	(51/73)	
3rd Gen: 	86.0%	(43/50)	
4th Gen: 	100.0%	(38/38)	
5th Gen: 	100.0%	(7/7)	
Jackups:	
To 200': 	58.2%	(39/67)	
200' MC: 	58.3%	(14/24)	
200' MS: 	14.3%	(3/21)	
300' IC: 	86.5%	(83/96)	
+300' IC: 	92.6%	(50/54)	
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: 	$20.10/BBL 
(3.61%)	
Brent Crude Oil: 	$19.60/BBL 
(-1.95%)	
Natural Gas: 	$1.92/MMBtu 
(-5.42%)	
Unleaded Gasoline: 	$0.58/gal 
(0.00%)	
prices from: 	1/28/2002	
change since: 	1/25/2002	
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