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	Tuesday January 22, 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]       SCORE Down for December 2001  Houston-based international offshore drilling contractor GlobalSantaFe reported that the company's worldwide SCORE for December 2001 was down from the previous month's SCORE by 1.7 percent.     [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]  Shell Continues Focus on Offshore Malaysia in 2002  Shell will continue its deepwater exploration efforts offshore Malaysia in Block E and Block G this year.  Petrovietnam Inks Deal for Cuu Long Basin Block  Petrovietnam, Zarubezhneft and Idemitsu have signed a production sharing agreement for the 09-3 block in the Cuu Long Basin offshore Vietnam.  Greenland Launches 2nd Licensing Round  The 2nd offshore licensing round for Greenland is expected to start in April, following government approval.    [IMAGE]   [IMAGE]       Production [IMAGE]      [IMAGE]     [IMAGE]  Westcoast Energy Reaches Milestone in Mexico  Westcoast Energy announced has reached a major milestone in the ! development of the Campeche Natural Gas Compression Services Project in Mexico.  Statfjord C Shutdown    Production from Statfjord C has been shut down after find corrosion damage in the flare system.  Dragon Oil Carries Out Production Testing in Caspian Sea  Dragon Oil has begun a 10-day testing program of its LAM 22-102 well in the Caspian Sea.    [IMAGE]   [IMAGE]       Company & Financial News [IMAGE]      [IMAGE]     [IMAGE]  Thomas O'Malley Resigns From Phillips  Thomas O'Malley has resigned from the Phillips Board of Directors to pursue other avenues in the energy industry.  Oil Search and Orogen Minerals Agree to Merge Oil Search and Orogen Minerals have agreed to merge in a deal valued at A1.4 billion.    [IMAGE]   [IMAGE]       Last 7 Days Top Stories [IMAGE]      [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.  Drilling Operations Halted on West Navion  Drilling operations on the West Navion have been halted for the next 2-3 weeks so the rig can undergo an inspection of its derrick.  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.U.S. Approves Deepwater Royalty Relief  Gale Norton, Secretary of the Interior, announced that oil and gas companies drilling in Gulf of Mexico deepwater will be given royalty reductions.  Pemex Increases Exploration Spending in 2002  Pemex plans to concentrate spending on explortion and production projects in 2002.  Conoco Focuses on Indonesia    Conoco expects to spend over $2.5 billion in Indonesia during the next nine years, as part of planned investment of $3.4 billion between 1998 and 2010.  CNOOC Acquires Repsol-YPF's Indonesian Assets  CNOOC has acquired Repsol-YPF's Indonesian assets for US $585 million in cash.  This acquisition will make CNOOC the largest offsohre oil prod! ucer in Indonesia.  CNOOC Jackup Leaves China  CNOOC secured the first contract for overseas service as an independent contractor in the international drilling market.  PGS Awarded $58 Million in New Contracts  Petroleum Geo-Services ASA announced that its onshore division has secured new seismic acquisition contracts in the United States, Ecuador, India and Bangladesh valued at $58 million.  Kerr-McGee Sells Ecuadorian Assets  Kerr-McGee has agreed to sell two oil lease concessions and its stake in a pipeline project in Ecuador to Perenco.  Shell and CNOOC Sign PSC Agreement  CNOOC and Shell Exploration China Limited signed a Production Sharing Contract for the exploration of the Bon! an area of Bohai Bay.  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.    [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  Baker Hughes   [IMAGE]   [IMAGE]   promote your company      [IMAGE] [IMAGE]  [IMAGE]  Drilling Mud and Cement Slurry Rheology Manual  [IMAGE] [IMAGE]  International Daywork Drilling Contract - Land  [IMAGE] [IMAGE]  Well Control for Completion and Workover  [IMAGE]  [IMAGE]   [IMAGE]   more products   [IMAGE]      [IMAGE] [IMAGE]  featured equipment: Cabot 200 Drilling and Workover Rig   [IMAGE]   Oilwell 840-E  [IMAGE]   [IMAGE]   [IMAGE]   more equipment      [IMAGE] [IMAGE]   featured jobs: !  - Sr. Drilling Engineer  - I?Manager  - Safety & Regulatory Compliance Specialist   more hot jobs >>   featured candidates:  - Lead Lease Operator  - Senior Instrument Technician, Lead Instrument Tech  - Senior Data Engineer   search for candidates >>   [IMAGE]   [IMAGE]     [IMAGE] [IMAGE]   Drillships:  To 5000':   50.0% (7/14) +5000':   92.0% (23/25)  Semisubs:  2nd Gen:   68.5% (50/73) 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:   58.3% (14/24) 200' MS:   14.3% (3/21) 300' IC:   87.5% (84/96) +300' IC:   90.7% (49/54) Severe Env.:   81.0% (17/21)  [IMAGE]   [IMAGE]   view complete utilization report      [IMAGE] [IMAGE]  Light Crude Oil:  $18.00/BBL  (0.00%) Brent Crude Oil: !  $18.45/BBL  (0.00%) Natural Gas:  $2.23/MMBtu  (0.00%) Unleaded Gasoline:  $0.53/gal  (-1.85%) prices from:  1/21/2002 change since:  1/18/2002  [IMAGE]   [IMAGE]    [IMAGE] 	[IMAGE]		
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