Unocal completes drilling Ranggas Selatan-1 appraisal well

Unocal Corporation said Wednesday that Unocal Rapak, Ltd., had successfully completed the drilling of the Ranggas Selatan-1 appraisal well, extending the Ranggas field to the south on the Rapak production-sharing contract (PSC) area offshore East Kalimantan.

Unocal said the well was drilled to a true vertical depth of 10,243 feet (3,122 meters), and penetrated 187 feet (57 meters) of net oil pay and 258 feet (79 meters) of net gas pay in several zones of high quality reservoir rock.

The Selatan-1 well is located 1 mile (1.6 kilometers) south of the Ranggas-1 discovery well 5.7 miles (9.2 kilometers) north of the Gehem-1 well of the Ganal PSC.

Unocal said it is conducting conceptual engineering studies for the possible development of the Ranggas field. "Extending the Ranggas oil and gas accumulations to the south is an important and positive appraisal step for the field," said Brian W. G. Marcotte, president of Unocal Indonesia Company. "While we are still planning to have the Ranggas project ready for government approval by early next year, the Gehem-1 results have implications for appraising the deeper oil potential at Ranggas and optimizing the development."

Marcotte said the company plans to move Ranggas along, while assessing the deep potential and options for co-development with Gehem.

Unocal Rapak is the operator of the Rapak PSC area and holds and a 80-percent working interest. Lasmo Rapak, Limited, a subsidiary of Italian oil giant firm ENI, holds the remaining 20-percent working interest. (robert)