Unocal develops Mahoni<\/p>\n
JAKARTA (JP): American oil and gas company Unocal Indonesia
\nhas initiated oil production at its Mahoni field in Balikpapan
\nBay, East Kalimantan.<\/p>\n
The company said in a statement that it is producing 4,700
\nbarrels of oil per day (bpd) from one well in the field and is
\nplanning to increase the output by developing another three wells
\nthere by year-end.<\/p>\n
The Mahoni field, which was discovered in 1999, is actually a
\nmarginal field, but Pertamina has provided incentives to make the
\ndevelopment of the field economically viable, Unocal said.<\/p>\n
\"New, accelerated production from fields like Mahoni has a
\nparticularly significant positive impact for Indonesia during
\nthis time of high oil prices and it helps to meet the OPEC
\nquota,\" the company said.<\/p>\n
The government has been providing incentives for oil
\ncontractors to develop marginal fields across the country to
\nraise the country's oil output as demanded by the Organization of
\nPetroleum Exporting Countries (OPEC).<\/p>\n
OPEC urged its members to raise output by 800,000 barrels per
\nday starting Oct. 1 to curb the oil price hike, with Indonesia
\nasking to raise output by 41,000 bpd. (jsk)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/unocal-develops-mahoni-1447893297",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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