RIGZONE Industry News

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=09Thursday January 17, 2002=09[IMAGE] =09=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] UK's 20th Licensing Round Open=
for Bids The UK's 20th licensing round opens up almost 300 offshore block=
s. African Oil Workers Launch General Strike The Nigeria Labor Congress l=
aunched a general strike on Wednesday in an effort to force the government =
to reverse a recent decision to increase fuel prices. Shell Evacuates Bren=
t C Platform A hydrogen sulfide gas leak was discovered on Shell's Brent C=
Platform in the UK North Sea last night. [IMAGE] [IMAGE] advertisem=
ent 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 infor=
mation: http://www.rigzone.com/market/surplus_listing.asp?eq_id=3D397 =
Exploration [IMAGE] [IMAGE] [IMAGE] Marathon Drills Two D=
usters in Gulf of Mexico Marathon Oil Company reported that it did not enc=
ounter hydrocarbons at the company's Paris Carver and Flathead exploratory =
wells in the deepwater Gulf of Mexico. Nigeria and Sao Tome & Principe Est=
ablish Joint Development Zone Nigeria and the Democratic Republic of Sao T=
ome & Principe have established a Joint Development Zone over the offshore =
area that had previously been subject to competing national claims. Matrix=
to Re-enter Kambuna #1 Well Matrix plans to re-enter its West Kambuna # 1=
well after reviewing independent third-party studies on the area. U.S. Ap=
proves Deepwater Royalty Relief Gale Norton, Secretary of the Interior, an=
nounced that oil and gas companies drilling in! Gulf of Mexico deepwater wi=
ll be given royalty reductions. [IMAGE] [IMAGE] Production [IMAG=
E] [IMAGE] [IMAGE] Buzzard Boosts PanCandian's North Sea Reserves=
PanCanadian has increased its recoverable reserves on its Buzzard oil dis=
covery in the North Sea, after drilling two additional appraisal wells on t=
he structure. Iran Finalizes Foroozan-Esfyandar Development Plan Iran is =
close to finalizing development plans for the Foroozan-Esfyandar fields off=
shore Iran. Production Restarted at Argyll Field The UK's Department of T=
rade and Industry awarded a license to restart production from the UK's old=
est offshore oilfield, Argyll. Baja Pipeline Approved The FERC gave final=
approval to the U.S. segment of the North Baja Pipeline project. ! [IMA=
GE] [IMAGE] Company & Financial News [IMAGE] [IMAGE] [IMAG=
E] Capco Acquires Energy Reserves Group Capco Energy, Inc. has signed an =
agreement to acquire all outstanding shares of Houston-based Energy Reserve=
s Group. [IMAGE] [IMAGE] advertisement [IMAGE] Human Resources in O=
il and Gas is the comprehensive HR forum for the industry. The conference w=
ill deal with attracting and retaining quality staff and dealing with the e=
ffects of mergers, acquisitions, and restructuring. This conference is a mu=
st for anyone involved in the often hectic human resources decisions of tod=
ays oil and gas companies. HR in Oil and Gas is being held in Aberdeen on F=
ebruary 27 and 28. Click here for more information. Last 7 Days =
Top Stories [IMAGE] [IMAGE] [IMAGE] Former Enron Execs Start New =
Company Several former Enron senior executives have formed a new company t=
o provide risk management services to the energy industry. Torch Offshore =
Purchases Construction Vessel Torch Offshore has purchased a 520-foot ves=
sel which it intends to convert to a DP-2 offshore construction vessel and =
rename the Midnight Express. Anadarko Petroleum Provides 2002 Outlook Ana=
darko Petroleum Corporation outlines its expectations for capital spending =
for 2002 and offers guidance on 2001 financial and operating results. Devo=
n Hits Offshore Brazil Devon Energy has made a discovery in the shallow wa=
ters of Campos Basin offshore Brazil. National-Oilwell Acquires HALCO Nat=
ional-Oilwell has acquired HAL Oilfield Pump & Equipment Company. Anderson=
Employees Destroy Enron Documents Andersen reports that individuals in th=
e firm have disposed of a significant number of electronic and paper docume=
nts and correspondence relating to the Enron account Petrobras Awards FMC =
$17 Million Contract FMC will provide Petrobras with three deepwater solut=
ions with a contract value of approximately $17 million. Novus Petroleum H=
its in the Gulf of Mexico The La Playa-1 well in the western Gulf of Mexic=
o offshore Padre Island has discovered natural gas. Kongsberg Awarded Craz=
y Horse Project Kongsberg Simrad has been aw! arded a contract for providi=
ng an integrated control and monitoring system to BP for the Crazy Horse PD=
Q semisub. Venture To Begin Drilling Program on Sycamore Field Venture Pr=
oduction will start drilling in May of this year at its Sycamore field in t=
he UK Sector of the North Sea. Shell and CNOOC Sign PSC Agreement CNOOC a=
nd Shell Exploration China Limited signed a Production Sharing Contract for=
the exploration of the Bonan area of Bohai Bay. Statoil Sells First Oil F=
rom Girassol Statoil has sold its first load of crude - one million barrel=
s - from the TotalFinaElf-operated Girassol field offshore Angola. [IMAG=
E] [IMAGE] Upcoming Oil & Gas Industry Events [IMAGE] [IMAGE] =
[IMAGE] Jan. 22 Alliances and Partnering in Oil & Gas Singapore F=
eb. 6 Torch Mid-Winter Energy Conference New York Feb. 7 Marine Co=
nstruction 2002 Houston Feb. 10 2002 SPE International Petroleum Confer=
ence & E! xhibition in Mexico Villahermosa Feb. 26 2002 IADC/SPE Drilli=
ng Conference and Exhibition Dallas Feb. 26 Offshore Oil and Gas Safet=
y Seminars Aberdeen Feb. 27 Human Resources in Oil & Gas Aberdeen Mar.=
10 AAPG Annual Meeting Houston Mar. 20 LNG North America Houston A=
pr. 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 B=
aker Hughes [IMAGE] [IMAGE] pr! omote your company [IMAGE] [IMAG=
E] [IMAGE] 2001 U.S. Offshore Oil Company Directory [IMAGE] [IMAGE] Dec=
ision Analysis for Petroleum Exploration, 2nd Ed. [IMAGE] [IMAGE] Environ=
mental Impact of the Offshore Oil and Gas Industry [IMAGE] [IMAGE] [IMAGE=
] more products [IMAGE] [IMAGE] featured equipment: Wartsila Gene=
rator Sets [IMAGE] BOP Closing Units [IMAGE] [IMAGE] [IMAGE] more=
equipment [IMAGE] [IMAGE] featured jobs: - Production Operator - =
Construction Engineer - Senior Pipeline Engineer ! more hot jobs << fe=
atured candidates: - Field Geologist & Software Engineer - Commissioning =
Operator - Geological Oil and Gas Database Support Specialist search for=
candidates << [IMAGE] [IMAGE] [IMAGE] [IMAGE] Drillships: To 50=
00': 50.0% (7/14) +5000': 96.0% (24/25) Semisubs: 2nd Gen: 67.1% (4=
9/73) 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: 50.0% (12/24) 200' MS=
: 14.3% (3/21) 300' IC: 86.5% (83/96) +300' IC: 90.7% (49/54) Severe =
Env.: 81.0% (17/21) [IMAGE] [IMAGE] view complete utilization report=
[IMAGE] [IMAGE] Light Crude Oil: $18.82/BBL (1.84%) Brent Crude Oi=
l: $19.48/BBL (-1.27%) Natural Gas: $2.41/MMBtu (5.24%) Unleaded Gasoli=
ne: $0.55/gal (3.77%) prices f! rom: 1/16/2002 change since: 1/15/2002 =
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=09=09=09 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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