Unocal to acquire 19.5% interest in Donggala PSC

US independent oil firm Unocal Corporation on Wednesday confirmed that its Unocal Donggala Limited subsidiary had reached an agreement to acquire a 19.55-percent working interest in the Donggala production-sharing contract (PSC) from France?s TotalFinaElf, the operator of the block.

Donggala PSC area is located offshore East Kalimantan. Water depth on Donggala ranges from 6,000 to 8,000 feet. The block lies outboard of the Rapak PSC area where Unocal is operator and holds an 80-percent working interest.

Following the agreement, TotalFinaElf still has the remaining 22.95 percent working interest in the block, while Japan?s Inpex, Pertamina, and Unocal hold 42.5 percent, 15 percent, 19.55 percent, respectively. (robert)