RIGZONE Industry News ,
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February 18, 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
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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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.

California Proposes Offshore Lease Exchange <http://www.rigzone.com/news/article.asp?a_id=2638>
Sen. Barbara Boxer is proposing legislation that would halt new drilling offshore California.

	


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Exploration	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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Indonesia Closes E&P Tender in July <http://www.rigzone.com/news/article.! asp?a_id=2641>
Indonesia is offering seventeen blocks in an exploration and production tender that was delayed from the fourth quarter of 2001.

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. 

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.

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Production	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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AMEC Secures Indonesian Offshore Services Contract  <http://www.rigzone.com/news/article.asp?a_id=2637>
AMEC has been awarded a key! offshore services contract by YPF Maxus valued at US $2.6 million.

Sudan Field Has Estimated Reserves of 149.1 Million Barrels <http://www.rigzone.com/news/article.asp?a_id=2644>
Lundin Petroleum said an independent study of Block 5A at the Thar Jath field in Sudan put estimated reserves there at 149.1 million barrels of oil.

ExxonMobil and ChevronTexaco Consider Underwriting Pipeline <http://www.rigzone.com/news/article.asp?a_id=2642>
ExxonMobil and ChevronTexaco are exploring the possibility of building a $1.13 billion trans-Balkan pipeline.

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Company & Financial News	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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Noble Affiliates Makes Management Changes <http://www.rigzone.com/news/article.asp?a_id=2643>
Noble Affiliates, Inc. announced the appointment of three executives to new positions in the company.

PetroQuest Energy, Inc. Announces $20 Million Stock Offering <http://www.! rigzone.com/news/article.asp?a_id=2636>
PetroQuest Energy, Inc. announced the offering of 4,545,455 shares of its common stock in an underwritten offering at a price of $4.40 per share.

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Last 7 Days Top Stories	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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Conoco and Tesco Unveil Revolutionary Drilling Rig <http://www.rigzone.com/news/article.asp?a_id=2603>
Conoco and Tesco Corporation have jointly announced plans to construct three revolutionary drilling rigs using Tesco's proprietary Casing Drilling(TM) technology.

ExxonMobil Expects to Begin Work at Sakhalin in October <http://www.rigzone.com/news/article.asp?a_id=2600>
Exxon Neftegas, operator of Russia's Sakhalin-I oil and gas field, will begin drilling operations in two offshore deposits in October of this year.

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.

Halliburton To Provide Its Services To Russia <http://www.rigzone.com/news/article.asp?a_id=2595>
Halliburton International Inc. and Sibneft, signed an agreement that will give Halliburton the ability to deploy all of its product service lines to the Russian oil and gas market.

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. wi! ll build and operate the Cameron Highway Oil Pipeline System, a major new 380-mile oil pipeline in the Gulf of Mexico.

Hugo Chavez Appoints New Head of PDVSA <http://www.rigzone.com/news/article.asp?a_id=2594>
President Hugo Chavez on Saturday appointed Gaston Parra as head of state oil company PDVSA. 

PanCanadian Drills Another Duster <http://www.rigzone.com/news/article.asp?a_id=2623>
PanCanadian drills its third duster offshore eastern Canada.

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.

Hunt Awards Camisea Project to KBR <http://www.rigzone.com/news/article.asp?a_id=2588>
Hunt Oil Company has signedan agreement with Kellogg Brown & Root to! conduct a Front End Engineering Design study for the Camisea LNG project.

Two Major Oil Fields Discovered in Columbia <http://www.rigzone.com/news/article.asp?a_id=2592>
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.

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 and $13.1 million ($0.16 per diluted share) in the prior year.

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Upcoming Oil & Gas Industry Events	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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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. 9 	2002 SPE/ICoTA Coiled Tubing Conference and Exhibition <http://www.rigzone.com/news/event_detail.asp?event_id=41>	Houston	
May. 6 	Offshore Technology Conference 2002 <http://www.rigzone.com/news/event_detail.asp?event_id=31>	Houston	
Jun. 23 	Ocean Mechanics and Arctic Engineering 2002 <http://www.rigzone.com/news/event_detail.asp?event_id=219>	Oslo	
list your conference <http://www.rigzone.com/news/post_event.asp?action=INSERT>	view upcoming events <http://www.rigzone.com/news/event_home.asp>	
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Energy Statistics Sourcebook, 14th Edition on CD-ROM <http://www.rigzone.com/store/product.asp?p_id=123>	
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Contact Directory 2001 on CD <http://www.rigzone.com/store/product.asp?p_id=242>	
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  <http://www.rigzone.com/images/spacer.gif>	featured equipment:	
Gardner Denver 1100 SCR Rig <http://www.rigzone.com/market/surplus_listing.asp?eq_id=433>	
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National 1320 UE (Partial Rig) <http://www.rigzone.com/market/surplus_listing.asp?eq_id=423>	
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  <http://www.rigzone.com/images/spacer.gif>	featured jobs: 	
-	Senior Metallurgist (BS) <http://www.rigzone.com/jobs/job_posting.asp?p_id=1001>	
-	SR Engineer-Rotating Equipment <http://www.rigzone.com/jobs/job_posting.asp?p_id=1066>	
-	Field Sales/Service Support Engineer <http://www.rigzone.com/jobs/job_posting.asp?p_id=1055>	
more hot jobs >> <http://www.rigzone.com/jobs/hot_jobs.asp>	
featured candidates: 	
-	Senior Drilling Engineer & Consultant <http://www.rigzone.com/jobs/resume.asp?r_id=10761>	
-	Senior Contracts Manager <http://www.rigzone.com/jobs/resume.asp?r_id=10787>	
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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: 	$21.50/BBL 
(1.37%)	
Brent Crude Oil: 	$20.86/BBL 
(-0.38%)	
Natural Gas: 	$2.20/MMBtu 
(1.85%)	
Unleaded Gasoline: 	$0.61/gal 
(1.67%)	
prices from: 	2/15/2002	
change since: 	2/14/2002	
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