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UNOCAL DEVELOPMENT PROJECT TO ADD OIL AND GAS PRODUCTION IN ALASKA'S COOK INLET

 LOS ANGELES, Dec. 21 /PRNewswire/ -- Unocal Corp. (NYSE: UCL) today detailed a program that develops new crude oil and natural gas reserves at the offshore Granite Point platform in Alaska's Cook Inlet.
 Based on the success of four wells already drilled under the first phase of this program, Unocal plans to resume development drilling after a facilities upgrade is completed. The program uses Unocal's pioneering extended reach drilling technique to increase the productivity of the field's conventional producing zone, the Middle Kenai (Tyonek). Additional new wells will produce from a reservoir discovered earlier this year in the deeper Hemlock zone.
 "This project demonstrates how new discoveries, new technology and existing infrastructure make it possible to develop the significant additional reserves that remain in the Cook Inlet," said Wylie R. Barrow Jr., general manager of Unocal's oil and gas operations in Alaska. The Granite Point platform, located 40 miles southwest of Anchorage, Alaska, has been in operation since 1967.
 The next phase of the Granite Point development program calls for drilling 12 more wells over a period of approximately four years. These are expected to add daily production of 7,000 barrels of oil and 4.9 million cubic feet of natural gas.
 As part of the initial development phase, the first two extended reach development wells into the Tyonek formation have already been completed and are producing at rates four to five times greater than conventional wells in the formation.
 The company has also completed two development wells into the Hemlock formation. One was the original discovery well drilled last March. The four new wells have increased the platform's daily oil production to 5,200 barrels, up from 2,300 barrels.
 Prior to beginning the next development phase, Unocal plans to add a gas compression unit on the platform to increase production capacity. Once this upgrade is complete, development drilling would be able to resume in 1994.
 Granite Point discovery well No. 11-13RD was the first commercial well in the Granite Point field to produce from the Hemlock zone. The well tested at 1,440 barrels of oil and 1 million cubic feet of gas per day through a 11/64-inch choke with a flowing tubing pressure of 1,550 pounds per square inch. It was drilled to a total depth of 11,560 feet, with perforations between 11,032 and 11,377 feet.
 Unocal, with a 25 percent interest, is the operator of the Granite Point platform. Mobil Exploration and Producing U.S. Inc. holds the remaining 75-percent interest.
 -0- 12/21/92
 /CONTACT: Janet McClintock of Unocal, 213-977-5047/
 (UCL)


CO: Unocal Corp. ST: California, Alaska IN: OIL SU:

BP -- LA014 -- 8851 12/21/92 13:06 EST
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Publication:PR Newswire
Date:Dec 21, 1992
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