Unocal finds oil in Kutai

Unocal finds oil in Kutai

NEW YORK (Dow Jones): Unocal Corp and Mobil Corp jointly discovered a potential oil field in the deepwater Kutai Basin area offshore East Kalimantan, Indonesia.

In a press release Monday, Unocal said the first exploration well, West Seno #2, was drilled to a true vertical depth subsea of 8,770 feet in 2,800 feet of water, and encountered 172 feet of vertical oil pay in two zones between 7,300 feet and 8,600 feet.

A drillsteam test flowed 2,900 barrels of 37-degree oil a day and 3.1 million cubic feet of gas a day on a 28/64-inch choke.

A second test, on West Seno #1, is planned for this week. The companies plan next to confirm the field's commercial potential.