Unocal begins its first oil production in Gulf of Thailand

abarrelfull wrote on 07 May 2014 06:44
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Aug. 7, 2001

Unocal Corporation (NYSE: UCL) today said its Unocal Thailand, Ltd., subsidiary had started its first crude oil production in the Gulf of Thailand.

Early production from the Plamuk field is 2,500 to 3,000 barrels of oil per day (Unocal, 71.25% working interest) and is expected to increase to 15,000-18,000 barrels per day in the first quarter 2002.

"We expect to significantly increase production once we have completed installation of a new oil processing platform adjacent to existing gas processing facilities in the nearby Platong field," said Randy Howard, president of Unocal Thailand. "We are drilling additional wells in the Yala and Plamuk fields that will help us boost production ." The fields will produce a high-quality, light sweet crude oil. The production would increase Thailand's current indigenous oil output by about 25 percent.

Production from the Yala field will be added once the production area application is approved by the Thai government.

A new floating storage and offloading vessel, SIBEA, has been installed. In total, the company plans to produce from four new production platforms (2 in the Plamuk field and 2 in the Yala field), in addition to two existing platforms in the Kaphong field and one in the Surat field.

Unocal Thailand's co-concessionaires include Mitsui Oil Exploration Co., Ltd., and PTT Exploration and Production Public Company Limited.

Unocal is one of the world's leading independent natural gas and crude oil exploration and production companies. The company's principal operations are located in North America (Gulf of Mexico region, Alaska and Canada) and in Asia (Thailand, Myanmar, Indonesia, and Bangladesh). The company is also pursuing exploration programs in West Africa and Brazil.

Unocal Thailand has been producing natural gas in the Gulf of Thailand since 1981. Current gross gas production averages more than 1 billion cubic feet per day.

• Unocal begins its first oil production in Gulf of Thailand

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