[burmanet2-l] Reuters-Unocal sees Y

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Subject: Re: [burmanet2-l] Reuters-Unocal sees Yadana Q4 2000 output at 525 mln cfpd

2 points:  One, Beach said in June of 99 at the shareholder meeting which
most of the Unocal directors skipped, that this ramp-up would begin in
July 99.  One doubts that he is holding his breath waiting for this
result. Two, he told shareholders that some gas WAS being provided to the
junta economy.  One wonders which statement, the one to shareholders or
the one to the press, is the lie.

On Mon, 18 Oct 1999, TIN KYI wrote:

> Monday October 18, 2:27 am Eastern Time
> Unocal sees Yadana Q4 2000 output at 525 mln cfpd
> SINGAPORE, Oct 18 (Reuters) - Unocal Corp (NYSE:UCL - news) expects to raise
> production at Myanmar's Yadana gas project to 525 million cubic feet a day
> (cfpd) by the fourth quarter next year, the firm's chairman said on Monday.
> 
> Unocal Chairman and Chief Executive Officer Roger Beach said current
> production at the field was very small, something around two million cfpd,
> but there were ample availabilities to meet the demand at Thailand's
> Ratchaburi power plant when it starts operation.
> 
> ``About August 2000, we will have the full thing (Ratchaburi), that's the
> latest EGAT (Electricity Generating Authority of Thailand) projection,'' he
> told Reuters in an interview.
> 
> ``So we're probably talking about 525 million cubic feet a day by the fourth
> quarter of next year.''
> 
> ``We have plenty of supplies sitting around, it's just a matter of opening a
> valve,'' he said.
> 
> In August, Petroleum Authority of Thailand (PTT) source said EGAT might
> delay taking gas from Yadana field until December rather than the third
> quarter as earlier planned.
> 
> PTT signed a 30-year contract with the Yadana producers to start taking gas
> from the offshore project in Myanmar from August 1998 to use as fuel for
> EGAT's Ratchaburi plant in western Thailand.
> 
> The contract required PTT to take an initial 65 million cfpd, rising to 525
> over 15 months. PTT has completed the pipeline to deliver the gas from the
> Thai-Myanmar border, but the completion of the Ratchaburi plant has been
> delayed repeatedly.
> 
> The Yadana field is operated by a consortium led by France's Total and
> includes PTT Exploration and Production and Unocal.
> 
> Beach said no Yadana production currently is going to Myanmar, but that it
> could be considered.
> 
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