Unocal sees more E. Kalimantan oil, gas projects come in to production by 2011

Oil and gas company Unocal Indonesia, a unit of US independent oil firm Unocal Corp., expects its five new oil and gas fields with a combined reserve of 1,495 million barrels of oil equivalent (MMBOE) to start production between 2006 and 2011, Bisnis Indonesia daily reported in its Thursday edition.

In a presentation at a program organized by the Society of Petroleum Engineers in Jakarta, Unocal president director Brian W.G. Marcotte said each of the five oil and gas fields were comparable to the West Seno field, which started production last year, in terms of reserve size.

The five fields are Merah Besar, Ranggas, Gendalo Area, Gula, and Gehem, located in Kalimantan and Sulawesi.

Merah Besar has a productive oil and gas reserve of 280 MMBOE, while Ranggas has 220 MMBOE, Gendalo area 450 MMBOE, Gula 500 MMBOE and Gehem 230 MMBOE. In comparison, West Seno has a productive reserve of 280 MMBOE.

Production at Merah Besar is targeted to start in 2006-2007, while production at Ranggas is scheduled to start in 2007-2008, Gendalo Area in 2007 or 2001, Gula in 2011 and Gehem in 2006 or 2010. (*)