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February 20, 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
Top Stories for the Past 7 Days
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Industry Headlines	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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Pertamina Expected to Reduce Workforce <http://www.rigzone.com/news/article.asp?a_id=2663>
Pertamina upstream director Iin Arifin Takhyan said that 10,000 jobs would go, reducing the workforce to 16,000.

Hydralift Acquires AmClyde <http://www.rigzone.com/news/article.asp?a_id=2654>
Hydralift ASA has entered into a contract to acquire substantially all of the assets and activities of AmClyde Engineered Products Company, Inc. from the bankruptcy estate of Friede Goldman Halter, Inc.

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Exploration	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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Pertamina To Bid for Egyptian Oil Projects <http://www.rigzone.com/news/article.asp?a_id=2662>
Pertamina plans to enter a bid for a tender to operate Egyptian oil fields in the Nile Delta, the Suez and the desert west of Cairo in April.

BP Wants to Sell Stake in Gulf of Thailand
BP hopes to sell a 25 percent stake in block A-18 in the Gulf of Thailand by the end of 2002.

Enterprise Looking to Salvage Iran Bid <http://www.rigzone.com/news/article.asp?a_id=2659>
Enterprise Oil is in last minute negotiations with Petropars to revise the buyback contract for phases six through eight of Iran's massive South Pars gas project.

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Production	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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ENI Completes Blue Stream Pipeline <http://www.rigzone.com/news/article.asp?a_id=2657>
The record-breaking gas pipeline Blue Stream is now a reality. The first line of this unique infrastructure that connects Russia to Turkey has been completed.

El Paso Energy to Acquire El Paso Corp. Pipeline Assets <http://www.rigzone.com/news/article.asp?a_id=2656>
El Paso Energy Pa! rtners LP plans to buy $750 million of natural gas pipelines and energy assets from El Paso Corp. to boost dividends.

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Company & Financial News	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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PetroChina Interested in Husky Assets <http://www.rigzone.com/news/article.asp?a_id=2661>
PetroChina is considering a multi-billion dollar acquisition of the upstream business in Canada of Husky Energy Inc.

2001 Good Year for Statoil <http://www.rigzone.com/news/article.asp?a_id=2658>
Statoil achieved a good result in 2001. Income before tax for 2001 totaled NOK 56.2 billion (USD 6.2 billion) as against NOK 60 billion (USD 6.8 billion) the year before.

Bollinger Shipyards to Build Three Supply/Utility Boats <http://www.rigzone.com/news/article.asp?a_id=2655>
Bollinger Shipyards has signed a contract to build three 145 foot supply/utility boats with Edison Chouest Offshore.

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Last 7 Days Top Stories	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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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.

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.

PanCanadian Drills Another Duster <http://www.rigzone.com/n!>
PanCanadian drills its third duster offshore eastern Canada.

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.

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.

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 an! d $13.1 million ($0.16 per diluted share) 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.

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.

Amerada Hess To Reduce UK Workforce <http://www.rigzone.com/news/article.asp?a_id=2635>
Amerada Hess will reduce its exploration and production staff based in the UK by approximately 15 precent.

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

Offshore Nigerian Field Confirmed <http://www.rigzone.com/news/article.asp?a_id=2640>
Three appraisal wells have confirmed the potential of a previously unknown offshore oil field in Nigeria.

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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. 7	CORROSION/2002 <http://www.rigzone.com/news/event_detail.asp?event_id=254>	Denver	
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 Tec! hnology Conference 2002 <http://www.rigzone.com/news/event_detail.asp?event_id=31>	Houston	
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  <http://www.rigzone.com/images/spacer.gif>	featured equipment:	
Ambar Marine 26' Fast Rescue Boats <http://www.rigzone.com/market/surplus_listing.asp?eq_id=419>	
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Cabot 250 Workover and Drilling Rig <http://www.rigzone.com/market/surplus_listing.asp?eq_id=401>	
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  <http://www.rigzone.com/images/spacer.gif>	fe! atured jobs:	
-	Dynamic Positioning,Instrumentation, and Control Systems Engineer <http://www.rigzone.com/jobs/job_posting.asp?p_id=1070>	
-	Land (Drilling) Safety Technician <http://www.rigzone.com/jobs/job_posting.asp?p_id=822>	
-	Applications Engineering - Well Modeling <http://www.rigzone.com/jobs/job_posting.asp?p_id=1002>	
more hot jobs >> <http://www.rigzone.com/jobs/hot_jobs.asp>	
featured candidates:	
-	Drilling and Completion Operations Manager <http://www.rigzone.com/jobs/resume.asp?r_id=10861>	
-! 	Subsea Trees & Wellheads Specialist <http://www.rigzone.com/jobs/resume.asp?r_id=10855>	
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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':	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:	$20.70/BBL 
(-3.72%)	
Brent Crude! Oil:	$20.52/BBL 
(-1.63%)	
Natural Gas:	$2.43/MMBtu 
(10.45%)	
Unleaded Gasoline:	$0.59/gal 
(-3.28%)	
prices from:	2/19/2002	
change since:	2/15/2002	
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