Unocal tests Ranggas oil well

Unocal tests Ranggas oil well

SINGAPORE: Unocal Corp said it had taken another step towards development of the deepwater Ranggas oilfield offshore Indonesia with the successful appraisal testing of a fourth well.

The El Segundo, California-based company said subsidiary Unocal Rapak Ltd. had tested the Ranggas-4 appraisal well at a daily rate of 8,158 barrels of oil and 6.4 million cubic feet (181,200 cu metres) of gas.

The well was located 2.4 miles (3.8 kilometers) north of the Ranggas-1 discovery well and 1.2 miles (1.931 km) south of the Ranggas-3 appraisal well, it said in a statement dated Monday.

Unocal said test rates were constrained by test equipment, but initial daily production rates from a well producing from the zone was estimated at upwards of 10,000 barrels of oil and eight million cubic feet (226,500 cu metres) of gas.

"The oil test rates are impressive, and we are very encouraged at this point in our appraisal program," Brian Marcotte, president of Unocal Indonesia Co said in the statement. -- Reuters