UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

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                                   FORM 10-K/A

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                [X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d)
                     OF THE SECURITIES EXCHANGE ACT OF 1934

                     FOR FISCAL YEAR ENDED DECEMBER 31, 2001
                                       OR
            [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF
                           THE SECURITIES ACT OF 1934
                  FOR THE TRANSITION PERIOD FROM _____ TO _____

                           COMMISSION FILE NO. 0-22483

                            SEVEN SEAS PETROLEUM INC.
             (EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)

               CAYMAN ISLANDS                              73-1468669
       (State or other jurisdiction of                  (I.R.S. Employer
        incorporation or organization)                 Identification No.)

                          5555 SAN FELIPE, SUITE 1700
                              HOUSTON, TEXAS              77056
               (Address of principal executive offices) (Zip Code)

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       Registrant's telephone number, including area code: (713) 622-8218

           Securities registered pursuant to Section 12(b) of the Act
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                                                      NAME OF EACH EXCHANGE
                 TITLE OF CLASS                        ON WHICH REGISTERED
Ordinary shares -- par value $0.001 per share         American Stock Exchange

           Securities registered pursuant to Section 12(g) of the Act

                                      None

Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the  preceding 12 months (or for such  shorter  period that the  registrant  was
required  to file  such  reports),  and  (2) has  been  subject  to such  filing
requirements for the past 90 days. Yes [X] No [ ]

Indicate by check mark if disclosure of delinquent  filers  pursuant to Item 405
of Regulation  S-K is not contained  herein,  and will not be contained,  to the
best of registrant's  knowledge,  in definitive proxy or information  statements
incorporated by reference in Part III of this Form 10-K or any amendment to this
Form 10-K. [ ]

As  of  March  27,  2002,  there  were  37,858,544  outstanding  shares  of  the
registrant's ordinary shares (also called "common shares"), par value $0.001 per
share. The aggregate market value of the common shares held by non-affiliates of
the registrant  (treating all executive officers and directors of the registrant
and their respective affiliates for this purpose as if they may be affiliates of
the registrant) was  approximately  $64.3 million on March 27, 2002,  based upon
the closing  sale price of the common  shares on such date of $1.95 per share on
the American Stock Exchange as reported by The Wall Street Journal.

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Introductory Note: The amendment of this Form 10-K relates to Exhibit 23(A), the
consent of Arthur Andersen LLP, the Company's  independent  public  accountants.
The  change  to the  consent  letter  is the  inclusion  of a  reference  to the
Company's Registration Statement on Form S-3, File No. 333-81356.
<PAGE>

                                   SIGNATURES

     Pursuant to the  requirements  of the Securities  Exchange Act of 1934, the
Registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned,  thereunto duly authorized, in the City of Houston, State of Texas,
on April 15, 2002.

                                          SEVEN SEAS PETROLEUM INC.

                                          /s/ RONALD A. LEFAIVE
                                          Ronald A. Lefaive, Vice President -
                                          Finance, Chief Financial Officer and
                                          Corporate Secretary
<PAGE>

                                 EXHIBIT INDEX

Exhibit
No.    Description                                Method of Filing
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23(A)  Consent of Independent Public Accountants  Filed herewith electronically