Unocal to focus on GOM, Indonesian exploration in 2004
Wednesday, January 28 2004 - 12:11 AM WIB
US independent oil, gas firm said on Tuesday it expected to maintain exploration capital budget of about $325 million in 2004 with deep water of Gulf of Mexico and Indonesia as primary focus.
The company did not provide further detail.
The company also said $930 million of capital spending will be earmarked principally for large international crude oil and natural gas development projects that are expected to bring on new production in 2004 and 2005.
Major international projects include Thailand oil and gas development, Indonesia deepwater development, Bangladesh gas field development, Caspian Sea oil development (including the export pipeline), and China's Xihu Trough natural gas development.(alex)