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=09=09=09[IMAGE]=09 =09Thursday February 7, 2002=09iOTC =09=09 =09=09=09[IMAGE]=09 =09=09=09[IMAGE]=09 [IMAGE]=09=09 RIGZONE [IMAGE] [IMAGE] [IMAGE] =09[IMAGE]=09 [IMAGE]=09=09home | news | search | maps | data | jobs | = market | store =09[IMAGE]=09 =09=09=09[IMAGE]=09 [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] Check= it Out! - Free - Today Only! Search and access Gulf of Mexico well = permits and plans. Pull current and historical data using area, date range= , operator or water depth search criteria. This $600 per year per license = service is free to all Rigzone.com visitors today only, http://www.rigzone.= com/data/permits/default.asp . If you are an employer or a recruiter look= ing for qualified personnel, Hire Away! Today you have unlimited access t= o the Rigzone.com Career Center. Search by residence location, experience = and/or skill set categories to quickly and easily find and contact industry= engineers, managers, technicians and rig hands. http://www.rigzone.com/job= s/recruiter.asp Industry Headlines [IMAGE] [IMAGE] [IMA= GE] Kuwait Resumes Partial Production Kuwait has resumed partial crude pr= oduction at its northern fields. 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. PD= VSA Refuses to Comment on Lawsuit PDVSA has refused to comment on a lawsui= t it is facing from Lyondell Chemical Co. for allegedly breaking a crude oi= l supply contract. [IMAGE] [IMAGE] advertisement Welcome to the worl= d of Thuraya, where communication knows no boundaries. Thuraya provides mob= ile satellite telephony to 99 countries throughout Europe, North and Centra= l Africa, the Middle East, Central Asia and the Indian Sub-continent. With = a combination of cellular and satellite phone capabilities bolstered by GPS= and data features, Thuraya provides the total communications solution you'= ve been looking for. Click for more... Exploration [IMAGE] = [IMAGE] [IMAGE] Panaco Successful at North White Lake Panaco's Nort= h White Lake No. 1 well encountered 55 feet of net pay. Production from th= is well could begin as early as April. Bligh Oil To Begin Exploration Offs= hore Southwest China Bligh Oil and its partners plan to begin drilling on = Block 22/12, located in the Beibu Gulf, offshore southwest China later this= month. Morocco To Invest in Offshore Exploration Morocco's oil refiner S= amir will invest up to $40 million in oil exploration over the next several= years and will focus on offshore exploration. PetroQuest Announces Succes= s at Chenin Blanc Prospect PetroQuest Energy, Inc. reported its first disc= overy of 2002 in the Chenin Blanc Prospect in the Company'sShip Shoal 72 Fi= eld. [IMAGE] [IMAGE] Production [IMAGE] [IMAGE] [IMAGE]= CNR Turns On the Tap At Espoir Field Offshore Cote d'Ivoire Canadian Nat= ural Resources Limited announces that oil production from the Espoir Field,= offshore Cote d'Ivoire, Africa, commenced on February 4, 2002 at 8,500 bar= rels per day. Williams Starts Up Gulf of Mexico Deepwater Pipelines Willi= ams has begun receiving oil and natural gas into new deepwater pipelines th= at were recently completed in the western Gulf of Mexico. [IMAGE] [IMA= GE] Company & Financial News [IMAGE] [IMAGE] [IMAGE] Chevro= nTexaco Announces 2002 Spending Budget ChevronTexaco Corp. is! reducing it= s capital spending this year by 22 percent from 2001 due mainly to merger-r= elated efficiencies. [IMAGE] [IMAGE] Last 7 Days Top Stories [IM= AGE] [IMAGE] [IMAGE] BP Could Cut Jobs in the North Sea BP is co= nsidering cutting some of its 3,600 Aberdeen-based workforce in a bid to co= ntrol rising costs. Anadarko Plans to Spend $2 Billion in 2002 Anadarko P= etroleum Corporation said that its board of directors has approved an initi= al capital spending budget of $2 billion for 2002 this is down from the $3.= 3 billion approved for 2001. Honeywell Lands Belanak Contract Honeywell I= ndustry Solutions has been selected as the automation supplier for the Bela= nak oil field development project in Indonesia. Kvaerner and Aker Form Sh= ipbuilding Company Kvaerner and Aker RGI will establish a jointly owned sh= ipbuilding management company. Together, the two groups own 12 shipyards in= Europe, and one in the! USA and Brazil. Amerada Hess Hits Offshore Equato= rial Guinea Amerada Hess Corporation reported that it has made another sig= nificant oil discovery offshore Equatorial Guinea in the Rio Muni Basin. O= PEC Expects To Increase Market Domination OPEC's oil production and its do= mination of the oil market are expected to increase gradually over the next= two decades, with the group's output rising to more than 50% of global oil= demand by 2020, a recent OPEC study says. McMoRan Successful at Mound Poi= nt #2 Well This well confirms McMoRan's exploration concept for the Mound = Point area which is one of the largest geologic structures in the shallow w= aters offshore Louisiana. Varco Revenue Up 46% Varco's net income in 2001= more than doubled that of 2000. Gulf Marine Wins Matterhorn TLP Topsides = Project Technip-Coflexip Group announced that Atlantia Offshore Limited ha= s awarded Gulf Marine Fabricators a fabrication contract for the Matterhorn= dry-tree TLP topsides facility and foundation piles. West Navion Experien= ces 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 R= amRig derrick. Pertamina Bidding for Devon Indonesia Assets Pertamina is = ready to submit a bid to acquire Devon Energy's local assets. Kuwaiti Oil = Minister Offers to Step Down Kuwaiti members of parliament ! have called f= or the resignation of the entire government following last week's explosion= at an oil plant where four workers were killed and sixteen were injured. = [IMAGE] [IMAGE] Upcoming Oil & Gas Industry Events [IMAGE] [= IMAGE] [IMAGE] Feb. 7 Marine Construction 2002 Houston Feb. 10 = 2002 SPE International Petroleum Conference & Exhibition in Mexico Villah= ermosa 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 M= ar. 17 Oil Field Chemistry Symposium - 13th International Geilo Mar. 20= LNG North America Houston Apr. 9 2002 SPE/ICoTA Coiled Tubing Conf= erence and Exhibition Houston May. 6 Offshore Technology Conference 20= 02 Houston list your conference view upcoming events [IMAGE] [IMAGE]= [IMAGE] [IMAGE] [IMAGE] Click here to go to Baker Hughes AADE Glo= bal Completion Service HoverDril Ocean International [IMAGE] [IMAGE] = promote your company [IMAGE] [IMAGE] [IMAGE] Integrated Petroleum = Reservoir Management: A Team Approach [IMAGE] [IMAGE] Corrosion Control = [IMAGE] [IMAGE] The Petroleum Shipping Industry, Volume 2 [IMAGE] [IMAGE= ] [IMAGE] more products [IMAGE] [IMAGE] [IMAGE] featured equipm= ent: West Africa Located Cooper LTO 750 [IMAGE] Ideco H-35 DD Drive-in = Rig [IMAGE] [IMAGE] [IMAGE] more equipment [IMAGE] [IMAGE] = featured jobs: - Completion Specialist - Supervisor, Directional Drille= r Job Code 4774 - Sales Engineer more hot jobs << featured cand= idates: - Procurement Manage! - Specialty Oilfield Drilling - Senior= Drilling & Workover Specialist search for candidates << [IMAGE] [I= MAGE] [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: 97.4% (37/38) 5th Gen: 85.7% (6/7) Jackups: To 200': 5= 3.7% (36/67) 200' MC: 50.0% (12/24) 200' MS: 14.3% (3/21) 300' IC: 8= 8.5% (85/96) +300' IC: 94.4% (51/54) Severe Env.: 90.5% (19/21) [IMAGE= ] [IMAGE] view complete utilization report [IMAGE] [IMAGE] Light = Crude Oil: $19.68/BBL (-1.94%) Brent Crude Oil: $19.27/BBL (-1.53%) Nat= ural Gas: $2.10/MMBtu (1.45%) Unleaded Gasoline: $0.57/gal (-1.72%) pri= ces from: 2/6/2002 change since: 2/5/2002 [IMAGE] [IMAGE] =09[IMAGE]= =09 [IMAGE][IMAGE] Promotional Opportunities Become a Sponsor, feature your job opening or, a= dvertise your upcoming industry conference. Click here for more informat= ion, send your press release to info@rigzone.com or call us at 281-345-40= 40. Member Services If you no longer wish to receive this newsletter, you= may unsubscribe by clicking here or by logging in to Rigzone and updating= your profile. You can also change the format you receive (HTML or Text) = and your email address by logging in and updating your account. Click her= e to log in . =09 [IMAGE]
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