press release

Unocal expects 35 percent growth in Thailand gas production in 4Q; sets record gas production of 1bcf/day

El Segundo, Calif., Oct. 21, 1996 -- Unocal Corporation today said that gross natural gas production by its Unocal Thailand, Ltd., subsidiary is expected to average nearly 990 million cubic feet per day (mmcf/d) during the fourth quarter 1996, 35 percent above the average gas production rate for the first nine months of 1996. Associated condensate production is expected to average about 32,500 barrels per day (b/d).

The company also said that gross production exceeded 1.0 billion cubic feet per day (bcf/d) for the first time since the company began operations in the Gulf of Thailand in 1981. The record production was set on Oct. 3 when the Petroleum Authority of Thailand (PTT) required additional gas to meet its customer demand. The billion-cubic-foot production level has so far been surpassed on three days.

"The record production proves that we are ready to respond to increased domestic demand for natural gas," said Brian W. G. Marcotte, president of Unocal Thailand. "We expect average gross production to be at or above 1.0 bcf/d by the second quarter 1997 when PTT's second submarine pipeline, onshore pipelines and processing facilities are fully operational."

Gross production for the first nine months of 1996 averaged 735 mmcf/d of gas and 26,482 b/d of condensate. For the full-year 1996, Unocal Thailand's gross production is expected to average approximately 800 mmcf/d of gas and 26,000 b/d of condensate. Unocal has a 65 percent average net interest in the nine fields it operates in the Gulf of Thailand.

Updated: October 1996