Unocal farms in to Donggala PSC

Unocal farms in to Donggala PSC

JAKARTA: Unocal Corporation said Tuesday its Unocal Donggala
Limited subsidiary has reached agreement to farm in to the
deepwater Donggala production-sharing contract (PSC) area
offshore East Kalimantan, Indonesia.

Unocal Donggala will acquire a 19.55-percent working interest
in the PSC. TotalFinaElf, the operator, Pertamina, and Inpex
Corp. hold the balance, it said in a press statement.

The Donggala PSC area lies outboard of the Rapak PSC area
where Unocal is operator and holds an 80-percent working
interest. Unocal has made several discoveries on Rapak, including
the deepwater Ranggas and Bangka fields. Water depth on Donggala
ranges from 6,000 to 8,000 feet.

Unocal and ENI-Lasmo Indonesia Limited also announced the
award of the Muara Bakau PSC area, located offshore East
Kalimantan and inboard of the company's Gula and Gendalo
discoveries.

Unocal will have a 50-percent working interest in the PSC.
Eni will be the operator and hold the remaining working interest.
Water depth on Muara Bakau ranges from 250 to 4,500 feet. -- JP