UNOCAL Ready to Rob Burma and Thail

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UNOCAL Share Price Drops More Than 2% Amid this News:

Thailand says Yadana gas pipeline test run July 1

BANGKOK, June 9 (Reuters) - A test run for transporting natural gas from
Myanmar's offshore Yadana field overland to Thailand will begin on July 1,
state-owned Petroleum Authority of Thailand (PTT) said on Tuesday.
Songkiert Tansamrit, spokesman for the state-run PTT, said the laying of a
gas pipeline on the Thai side would be completed by end-June and the test
run would be conducted for three consecutive days to make sure the natural
gas flows smoothly when the actual operations start.
``Commissioning, after the test run, will take about one month and 
officials
of PTT will discuss any problems relating to the transportation of natural
gas with investors,'' he said.
PTT Exploration and Production Plc (PTTE.BK), a unit of PTT, owns 25.5
percent of the field, Unocal (UCL - news) of the United States has 28.26
percent, Total SA (TOTF.PA) of France 31.24 percent, and Myanmar's 
state-run
Myanma Oil and Gas Enterprise 15 percent.
PTT and industry sources were earlier worried that the construction of the
pipeline on the Thai side would be delayed due to protests by villagers 
and
environmentalists earlier this year.
The pipeline's critics had demanded that a section of the pipeline, due to
run through western Kanchanaburi province, must be re-routed because it 
runs
through lush forests and construction could harm the environment.
PTT will have to pay $1.54 million in daily fines to Myanmar if the 
project
is delayed.
The Yadana project initially will provide 325 million cubic feet per day
(mmcfd) of natural gas to Thailand in 1998. Under the 30-year contract, 
that
will increase to 525 mmcfd in 1999.
Yadana's gas in place is estimated at more than five trillion cubic feet.