Unocal Pakistan Limited

Economic Review, March 1998 | Go to article overview

Unocal Pakistan Limited


Unocal Pakistan Ltd. is a wholly owned subsidiary of Unocal Corporation of the USA. Unocal Corporation is a worldwide producer of oil and gas with major operation in the United States, Thailand and Indonesia. Unocal's worldwide production of crude oil averages 207,000 barrels per day and gas production totals 1,800 million cubic feet per day. Unocal is also the worldwide leader in the production of geothermal energy in California, the Philippines and Indonesia.

In the Punjab area of Pakistan, Unocal Pakistan Ltd., operates two exploration licences in Leiah and Munda. It is also in a joint venture with Oil and Gas Development Corporation Limited (OGDCL) of Pakistan in the Fazilpur Licence, where drilling is in progress. Unocal Pakistan Ltd. and the Government Holdings has been granted another licence in the Karachi area, covering 2,300 sq. kms. in Karachi and Dadu districts, Sindh. Union Texas Pakistan (UTP) and Edison Gas have recently farmed in to this licence and UTP has assumed operatorship. The joint venture may spend over 5 million dollars as risk investment for seismic and drilling of an exploratory well during the initial three year term. Unocal is also actively involved in the gas (CentGas) and oil import pipeline projects from Turkmenistan.

Unocal corporation has completed a major transformation that positions the company to compete successfully in today's global energy environment. The company intends to play a key role in the entire value chain from resource development and transportation to end-user applications like power generation and fertiliser manufacturing.

Future energy demand in the fastest growing nations of Asia exceeds existing energy supplies. Unocal has the experience and expertise to link Asia's growing markets with known but undeveloped energy resources that will meet these demands.

The Company is moving ahead with a variety of new projects throughout Asia, building on its long experience and strong reputation. Significant expansion and activity is taking place within the company's exploration and production operations in the area.

Unocal's organization is along lines of focused, fast-acting business units with greater autonomy. This improves accountability, sharpens the competitive focus of management, helps to speed up decision-making, and allows for a variety of organisational and capital structures.

Unocal Corporation Facts

Reserves:

Crude oil and condensate reserves.

* United States - 236 million barrels (32.2 million tonnes)

* Foreign - 277 million barrels (37.9 million tonnes)

Natural Gas Reserves;

* United States - 2,575 billion cubic feet (72.9 billion cubic meters)

* Foreign - 4,220 billion cubic feet (119. …

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