Unocal?s 2002 Indonesian oil, gas production down

US Independent oil and gas producer Unocal Corp. reported that oil and gas production from Indonesian operation declined in 2002.

Gas production was down from 155.5 million standard cubic feet per day (MMCFD) in 2001 to 144 MMCFD in 2002, while crude oil, condensate and natural gas liquid was down from 29,800 barrels per day (BPD) in 2001, to 21.91 BPD in 2002. The company did not say its 2003 production expectation for Indonesia.

The company also reported average price for Indonesian gas in 2002 was US$ 3.65 per MCF, slightly higher than last previous year?s average price of $ 3.62. Average crude price for 2002 was $ 21.91 vs $22.27 in the previous year.

The company said its Indonesian operations will get a boost when deepwater oil, gas field West Seno, which is located offshore East Kalimantan, will start oil and gas production in the second quarter of this year. (alex)