Unocal reports decrease in Indonesian Q1 gas, liquids production
Friday, April 29 2005 - 03:45 AM WIB
US oil company Unocal Corp.reported on Thursday that its Indonesian first quarter 2005 net liquids and gas production dropped to 37,800 barrels per day (BPD) and 164.4 million standard cubic feet per day (MMCFD) or 75,000 barrels of oil equivalent per day (BOEPD) from 45,500 BPD and 177MMCFD or 65,200 BOEPD in the previous quarter.
The company?s data showed that during the quarter, average liquids price was US$44.91 per barrels versus $42.79 in the previous quarter while average gas price stood at $6.05 per MCF versus $6.12 per MCF.
Unocal, which operates several PSCs in East Kalimantan, supplies natural gas to LNG plant Badak NGL.
The company expected that second quarter net production would range between 89% to92% of first quarter production.
Unocal is the process of being merged to US oil giant ChevronTexaco. (alex)