Unocal hopeful to bring E. Kalimantan discoveries into production in 2007

US independent oil company Unocal Corp. is hopeful to bring its East Kalimantan deepwater discoveries into production as early as 2007, the company executive said.

?We have submitted plan of development (POD) for Ranggas oil, gas discovery, our plan is to have that approved by the end of 2003. We are also doing some specific engineering works along with that POD,? said Brian Marcotte, Unocal Indonesia president.

Marcotte said Unocal is also working for POD of its Gendalo discovery.

?If things run smoothly, we expect to bring Ranggas discovery into production late 2006 or early 2007,? said Marcotte.

Gendalo gas discovery could also be brought into production at around 2007, said Marcotte, but it would depend on new LNG market, which would justify construction of another LNG train in Bontang, East Kalimantan. Gendalo is planned to supply gas requirement for Bontang new LNG train.

Ranggas is oil and gas discovery with estimated gross discovery volume of about 200 to 350 million equivalent barrels of oil, with additional potential in other prospects on the same trend.

Gendalo is gas and condensate discovery with gross resource potential of at least 2.0 to 2.5 trillion cubic feet of gas plus an associated 50 to 150 million barrels of condensate.

Ranggas field is located within Rapak PSC, while Gendalo lies within Rapak PSC. Unocal is operator with 80 percent working interest in both blocks, while Lasmo Rapak, Limited, a subsidiary of Italian oil company ENI, holds the remaining 20 percent. (alex)