Unocal reports 2003 Indonesian gas, liquids production

U.S. independent oil and gas company Unocal Corp. reported Tuesday its 2003 Indonesian liquids production declined to 25,900 barrels per day (BPD) from 26,400 BPD the previous year, while gas production increased to 150.6 million cubic feet per day (MMCFD) from 144.0 MMCFD.

Unocal also reported that average realized prices for its Indonesian products had increased in 2003. The company’s average realized liquid price for 2003 was US$26.99 per barrel versus US$21.91 in the previous year, while the average natural gas price was US$3.95 per MCF versus US$3.74 per MCF.

The company’s Indonesian fourth quarter of 2003 liquids production increased to 29,900 barrels per day (BPD) from the previous quarter of 26,500 BPD, while gas production declined to 151.5 MMCFD from 160.2 MMCFD.

Meanwhile, average realized liquids price for the fourth quarter was US$28.11 per barrel versus US$26.25 in the previous quarter, while the average natural gas price was US$3.95 per MCF versus US$3.74 per MCF.

Unocal operates several PSCs offshore East Kalimantan, with gas production goes to Bontang LNG plant. The company said it would launch deepwater gas developments for the LNG plant this year.(robert)