RIGZONE Industry News ,
 =09=09=09[IMAGE]=09
=09Wednesday January 9, 2002=09[IMAGE]   =09=09
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[IMAGE]=09=09      [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 World=
wide Offshore Rig Utilization Oil & Gas Prices    [IMAGE]   [IMAGE]       I=
ndustry Headlines [IMAGE]      [IMAGE]       BP Scales Back Alaskan Operati=
ons  BP has decided to downsize its staff in Anchorage and shelve its Liber=
ty project at this time.  Collision Near Sleipner B Platform Averted  Emerg=
ency measures were put into action when two fishing trawlers were seen head=
ed for the unmanned Sleipner B platform.    [IMAGE]   ! [IMAGE]       Explo=
ration [IMAGE]      [IMAGE]     [IMAGE] !  Ocean Energy Increases Acreage O=
ffshore Angola  Ocean Energy acquires 35% interest in Block 10 offshore Ang=
ola and will serve as operator.  Malaysia, Indonesia & Vietnam Enter Joint =
Venture   The national oil companies of Malaysia, Indonesia and Vietnam hav=
e signed a joint venture agreement to explore for oil offshore Vietnam.  Ap=
ache Hits Again in Egypt  Apache has completed the Khepri Well in Egypt's W=
estern Desert.  The well tested at 29.5 million cubic feet of gas and 220 b=
arrels of condensate per day.   PGS Takes Interest in Varg Field  PGS purch=
ases Norsk Hydro's 42% share in License PL038 in the Norwegian sector of th=
e North Sea.     [IMAGE]   [IMAGE]       Production [IMAGE]      [IMAGE]   =
  [IMAGE]  PetroChina and Shell Sign Gas Pipeline Deal  PetroChina and Shel=
l have entered into a preliminary agreement for an $18 billion East/West Ch=
ina pipeline project.  KNOC To Ink Deal with PetroVietnam  KNOC is hoping t=
o sign an agreement with PetroVietnam to receive gas from the Rong Doi fiel=
d.  Jacobs Joins NAM Consortium  Jacobs Engineering has been awarded formal=
 approval to become a member of the NAM Consortium.       [IMAGE]       Com=
pany & Financial News [IMAGE]      [IMAGE]     [IMAGE]  Kerr-McGee Announce=
s 2002 Capital Budget  Kerr-McGee to allocate $310 million of its 2002 expl=
oration and production budget for the North Sea.  Northern Offshore Announc=
es Organizational Changes  Northern Offshore has moved its corporate office=
s from Norway to Bermuda.  Landmark Opens New Office in Anchorage  Landmark=
 Graphics has opened a new technical assistance support office in Anchorage=
, Alaska.  EEX's 2001 Operations Review  EEX summarizes its 2001 U.S. and i=
nternational operations activities.    [IMAGE]   [IMAGE]  advertisement  A =
National-Oilwell designed, 1992 built modular offshore drilling rig is avai=
lable 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=3D397           =
 Last 7 Days Top Stories [IMAGE]      [IMAGE]     [IMAGE]  Halliburton Says=
 the Rumors Are Not True  Halliburton says there is no basis for the rumors=
 that the company has filed for bankruptcy.  MMS Approves Use of FPSOs In G=
ulf of Mexico  The U.S. Minerals Management Service has approved the use of=
 FPSO vessels in the central and western portions of the Gulf of Mexico.  K=
vaerner Receives Final Approval for Rescue Plan  Kvaerner has received appr=
oval from the final group of lenders for the rescue plan that would merge K=
vaerner and Aker Maritime.  Nabors Changes Corporate Structure  Nabors Indu=
stries Board of Directors has approved a plan to reorganize the company and=
 change its place of incorporation from Delaware to Bermuda.  Prosafe Award=
ed FPSO Work Offshore Nigeria  Prosafe has been awarded an eight-year contr=
act for an FPSO to work on the Abo field offshore Nigeria by a consortium l=
ed by Agip.  Marathon Acquires Interests in Equatorial Guinea  Marathon has=
 completed its acquisition of CMS Energy's interests in Equatorial Guinea f=
or $993 million.  FMC Corporation Spins Off FMC Technologies  FMC Corporati=
on has distributed all of its remaining shares in FMC Technologies making i=
t a fully independent company.  SMOE Awarded North Sea Platform Contract  S=
embCorp has been awarded a contract by Maersk for the installation of a pro=
cess deck and accommodation module in the North Sea.  Marathon Begin! s Tra=
ding on NYSE  Marathon Oil Corporation has begun trading on the New York St=
ock Exchange as a standalone company following the separation of Marathon G=
roup and U.S. Steel.  Unocal Increases Production Offshore Thailand  Unocal=
 Thailand has plans to double the crude output in the Gulf of Thailand this=
 year as part of a six-year development plan.  Newfield Makes Management Ch=
anges  Newfield Exploration has made management changes in Australia and An=
adarko Basin office locations.  Houston Exploration Completes Acquisition  =
Houston Exploration finalizes South Texas property acquisition from Conoco =
for $69 million.    [IMAGE]   [IMAGE]       Upcoming Oil & Gas Industry Eve=
nts [IMAGE]      [IMAGE]     [IMAGE]  Jan. 22    Alliances and Partnering i=
n Oil & Gas   Singapore Feb. 6     Torch Mid-Winter Energy Conference  New =
York Feb. 7     Marine Construction 2002  Houston Feb. 10    2002 SPE Inter=
national Petroleum Co! nference & Exhibition in Mexico  Villahermosa Feb. 2=
6    2002 IADC/SPE Drilling Conference and Exhibition   Dallas Feb. 27    H=
uman Resources in Oil & Gas  Aberdeen Mar. 10    AAPG Annual Meeting  Houst=
on Apr. 9     2002 SPE/ICoTA Coiled Tubing Conference and Exhibition  Houst=
on May. 6     Offshore Technology Conference 2002  Houston Aug. 27    ONS 2=
002 Conference and Exhibition  Stavanger  list your conference  view upcomi=
ng events   [IMAGE]   [IMAGE]    [IMAGE]    [IMAGE] [IMAGE]  INTEC  Horizon=
 Offshore  Global Completion Service  HoverDril  DataLog   [IMAGE]   [IMAGE=
]   promote your company      [IMAGE] [IMAGE]  [IMAGE]  Managing the Offsho=
re Installation Workforce  [IMAGE] [IMAGE]  Accident Prevention Reference G=
uide  [IMAGE] [IMAGE]  Safety and Security at Sea  [IMAGE]  [IMAGE]   [IMAG=
E]   more products      [IMAGE] [IMAGE]  featured equipment: Nat! ional 132=
0-UE, National 1320-M and Oilwell 840-E  [IMAGE]   Dreco 1000 UE  Land Rigs=
  [IMAGE]   [IMAGE]   [IMAGE]   more equipment      [IMAGE] [IMAGE]   featu=
red jobs:   - Senior Operations Manager   - Contract Manager   - Senior Pip=
eline Engineer    more hot jobs >>    featured candidates:   - Petroleum En=
gineer - Drilling & Production   - Operations Coordinator   - Well Rounded =
Petroleum Engineer    search for candidates >>  [IMAGE]   [IMAGE]     [IMAG=
E] [IMAGE]   Drillships:  To 5000':   50.0% (7/14) +5000':   100.0% (25/25)=
  Semisubs:  2nd Gen:   67.1% (49/73) 3rd Gen:   82.0% (41/50) 4th Gen:   1=
00.0% (38/38) 5th Gen:  100.0% (7/7)   Jackups:  To 200':   56.7%  (38/67) =
200' MC:   54.2% (13/24) 200' MS:   14.3% (3/21) 300' IC:   87.5% (84/96) +=
300' IC:   88.9% (48/54) Severe Env.:   81.0% (17/21)  [IMAGE]   [IMAGE]   =
view complete utilization report      [IMAGE] [IMAGE]  Light Crude Oil:  $2=
0.73/BBL  (-3.49%) Brent Crude Oil:  $22.00/BBL  (0.14%) Natural Gas:  $2.2=
9/MMBtu  (-29.32%) Unleaded Gasoline:  $0.59/gal  (3.51%) prices from:  1/8=
/2002 change since:  1/7/2002  [IMAGE]   [IMAGE]    [IMAGE]  [IMAGE]    [IM=
AGE]       Promotional Opportunities Become a Sponsor, feature your job ope=
ning or, advertise your  upcoming industry conference.  Click here  for mor=
e information, send your press release to  info@rigzone.com  or call us at =
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