Unocal develops Mahoni
Unocal develops Mahoni
JAKARTA (JP): American oil and gas company Unocal Indonesia
has initiated oil production at its Mahoni field in Balikpapan
Bay, East Kalimantan.
The company said in a statement that it is producing 4,700
barrels of oil per day (bpd) from one well in the field and is
planning to increase the output by developing another three wells
there by year-end.
The Mahoni field, which was discovered in 1999, is actually a
marginal field, but Pertamina has provided incentives to make the
development of the field economically viable, Unocal said.
"New, accelerated production from fields like Mahoni has a
particularly significant positive impact for Indonesia during
this time of high oil prices and it helps to meet the OPEC
quota," the company said.
The government has been providing incentives for oil
contractors to develop marginal fields across the country to
raise the country's oil output as demanded by the Organization of
Petroleum Exporting Countries (OPEC).
OPEC urged its members to raise output by 800,000 barrels per
day starting Oct. 1 to curb the oil price hike, with Indonesia
asking to raise output by 41,000 bpd. (jsk)
JAKARTA (JP): American oil and gas company Unocal Indonesia
has initiated oil production at its Mahoni field in Balikpapan
Bay, East Kalimantan.
The company said in a statement that it is producing 4,700
barrels of oil per day (bpd) from one well in the field and is
planning to increase the output by developing another three wells
there by year-end.
The Mahoni field, which was discovered in 1999, is actually a
marginal field, but Pertamina has provided incentives to make the
development of the field economically viable, Unocal said.
"New, accelerated production from fields like Mahoni has a
particularly significant positive impact for Indonesia during
this time of high oil prices and it helps to meet the OPEC
quota," the company said.
The government has been providing incentives for oil
contractors to develop marginal fields across the country to
raise the country's oil output as demanded by the Organization of
Petroleum Exporting Countries (OPEC).
OPEC urged its members to raise output by 800,000 barrels per
day starting Oct. 1 to curb the oil price hike, with Indonesia
asking to raise output by 41,000 bpd. (jsk)