Unocal to start production at West Seno in April 2003

Unocal Indonesia has expressed optimism that the company will be able to start commercial production at the West Seno oil and gas field in April 2003, Bisnis Indonesia reported.

Suharsono Darmono, the company?s deep water operations manager in East Kalimantan, said the West Seno field was projected to provide a significant contribution to the country?s oil production, which according to the Japanese surveyor, would deplete in the next few years.

"At present, all details of the technical plans have been completed. We are optimistic that the commercial production could be commenced in April, 2003," he was quoted as saying.

Unocal?s vice president and general counsel, Nurman Djumiril, said earlier that the company had allocated about US$700 million in investment funds to develop its offshore oil exploration project in the West Seno oil block in Makassar Strait.

The project will be carried in two stages. Each stage of the oil field development will need investment of about $350 million. The company expected to be able to produce 20,000 barrels of crude during the first stage of the oil field development. The production will be increased to 50,000 barrels during the second stage of the oil field development. (*)