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	Monday February 11, 2002	iOTC   			
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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]       Transocean Sedco Forex Rescues Crew of ALOHA  Transocean Sedco Forex Inc. announced that its drillship, Peregrine III, has safely rescued the nine-member crew of the survey-and-recovery vessel ALOHA.  MMS Awards First Royalty-In-Kind Crude Contracts  The U.S. Minerals Management Service (MMS) has awarded the first four contracts to deliver royalty-in-kind crude t! o the Strategic Petroleum Reserve to ChevronTexaco, Williams, Equiva and ExxonMobil.    [IMAGE]   [IMAGE]       Exploration [IMAGE]      [IMAGE]     [IMAGE]  Two Major Oil Fields Discovered in Columbia  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.  Reliance Begins Major Exploration Program Offshore India  Reliance Industries will begin its ambitious three-year, $350 million offshore oil and gas exploration program in April of this year.    [IMAGE]   [IMAGE]       Production [IMAGE]      [IMAGE]     [IMAGE]  WesternGeco Launches Wester! n Neptune Q-Marine Vessel  WesternGeco announced that the Western Neptune, the company's highest capacity Q-Marine seismic survey vessel, will begin a large multi-client survey in the Gulf of Mexico in early March.  Halliburton Brings Subsea Viking to Gulf of Mexico  Halliburton Subsea is deploying its ultra modern multi-purpose support vessel, MSV Subsea Viking, to the Gulf of Mexico on a long-term basis.    [IMAGE]   [IMAGE]       Company & Financial News [IMAGE]      [IMAGE]     [IMAGE]  CHC Wins New North Sea Contract  CHC Helicopter Corporation has been awarded a 30-month contract by Kerr-McGee North Sea (U.K.) Limited.  Hunt Awards Camisea Project to KBR  Hunt Oil Company has signed! an agreement with Kellogg Brown & Root to conduct a Front End Engineering Design study for the Camisea LNG project.  Statoil Sells Agip a Percentage of Mikkel  Agip will buy 7.9 percent of the Mikkel development in the Norwegian Sea from Statoil, and has secured an option in the same deal to acquire 7.9 percent of the nearby Tyrihans discovery.    [IMAGE]   [IMAGE]       Last 7 Days Top Stories [IMAGE]      [IMAGE]     [IMAGE]  Varco Revenue Up 46%  Varco's net income in 2001 more than doubled that of 2000.  Kvaerner and Aker Form Shipbuilding Company  Kvaerner and Aker RGI will establish a jointly owned shipbuilding management company. Together, the two groups own 12 shipyards in Europe, and on! e in the USA and Brazil.  Vanco Awarded Acreage Offshore Equatorial Guinea  Vanco Energy has been awarded a 10% interest in Block N offshore Equatorial Guinea.  West Navion Experiences More Delays  Operations on the drill ship, West Navion, offshore Canada continues to be suspended, due to repair work on the main sheaves in the RamRig derrick.  CNR Turns On the Tap At Espoir Field Offshore Cote d'Ivoire  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.  Unocal Secures OPIC Funds  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 Indonesia.   McMoRan Sells Main Pass 299 Facilities to OFS  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.   Kuwaiti Oil Minister Offers to Step Down  Kuwaiti members of parliament have called for the resignation of the entire government following last week's explosion at an oil plant where four workers were killed and sixteen were injured.  Transocean Sedco Forex Announces 2001 Results  Transocean Sedco Forex Inc. reported a fourth-quarter profit after one-time charges pushed it to a loss in the same period of 2000.  PDVSA Begins 3 Year Offshore Exploration Program  PDVSA's justlaunched a three-year, $375 million offshore natural gas exploration program in the Atlantic near the Deltana platform area.  ChevronTexaco Announces 2002 Spending Budget  ChevronTexaco Corp. is reducing its capital spending this year by 22 percent from 2001 due mainly to merger-related efficiencies.  Magnum Hunter Outlines Plans for Gulf of Mexico Exploration  The Company has made plans to participate in a minimum of seven exploration wells in the GOM during 2002.    [IMAGE]   [IMAGE]       Upcoming Oil & Gas Industry Events [IMAGE]    [IMAGE]   [IMAGE]  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. 17    Oil Field Chemistry Symposium - 13th International  Geilo Mar. 20    LNG North America  Houston Apr. 2     e-Business in the E?Industry - Targeting the ! Value  Houston Apr. 9     2002 SPE/ICoTA Coiled Tubing Conference and Exhibition  Houston May. 6     Offshore Technology Conference 2002  Houston  list your conference  view upcoming events   [IMAGE] [IMAGE]    [IMAGE]    [IMAGE] [IMAGE]  Click here to go to Baker Hughes  AADE  Global Completion Service  HoverDril  Ocean International   [IMAGE]   [IMAGE]   promote your company      [IMAGE] [IMAGE]  [IMAGE]  Mapper 30-Day Trial CD  [IMAGE] [IMAGE]  The Abandonment of Offshore Oil & Gas Fields  [IMAGE] [IMAGE]  Natural Gas Systems Map  [IMAGE]  [IMAGE]!    [IMAGE]   more products      [IMAGE] [IMAGE]  featured equipment: West Africa Located Cooper LTO 750  [IMAGE]   Ambar Marine 26' Fast Rescue Boats  [IMAGE]   [IMAGE]   [IMAGE]   more equipment      [IMAGE] [IMAGE]   featured jobs:  - Snubbing Workover Operators  - I?Technicians/ Overseas Offshore Platform  - Hydrographic Surveyor   more hot jobs >>   featured candidates:  - Oil & Gas Explorationist and Professional Engineer  - Drilling Supervisor  - Sales and Marketing Manager   search for candidates >>   [IMAGE]   [IMAGE]     [IMAGE] [IMAGE]   Drillships:  To 5000':   57.1% (8/14) +5000':  96.0% (24/25)  Semisubs:  2nd Gen:   69.9% (51/73) 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:   98.1% (53/54) Severe Env.:   95.2% (20/21)  [IMAGE]   [IMAGE]   view complete utilization report      [IMAGE] [IMAGE]  Light Crude Oil:  $20.26/BBL  (3.10%) Brent Crude Oil:  $19.72/BBL  (2.60%) Natural Gas:  $2.19/MMBtu  (1.86%) Unleaded Gasoline:  $0.58/gal  (1.75%) prices from:  2/8/2002 change since:  2/7/2002  [IMAGE]   [IMAGE]    [IMAGE] 	[IMAGE]		
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