Unocal Increases Production Offshore Thailand
|Monday, January 07, 2002
Unocal Corp. is making plans to double the crude production from its fields in the Gulf of Thailand. This increase would bring production up to 18,000 barrels a day. Unocal Thailand started crude oil production in Thailand in August, 2001 under a US $280 million six-year development plan. Current output is around approximately 9,000-barrels per day. The company can increase crude production as soon as the license for the Yala field is approved.
There is speculation that the Industry Ministry has delayed approving the license to pressure Unocal into reducing the price of natural gas it sells to PTT PCL, the country's oil and gas conglomerate.