UCL's steam deliveries

UCL's steam deliveries

EL SEGUNDO, Calif. (Dow Jones): Unocal Corp.'s (UCL) Unocal Geothermal of Indonesia Ltd. unit received a $900,000 payment for $4.3 million in March steam deliveries to Gunung Salak electric generating units 1, 2, and 3, creating a shortfall of $3.4 million.

In a press release Wednesday, Unocal said Unocal Geothermal operates the Salak field, which is located on the island of Java in Indonesia, and supplies steam to units 1, 2 and 3.

Unocal said it also has a receivable balance of $44 million, most of which is for steam sales from the field, with $12 million due by the end of August and the balance payable over the next several years.

Unocal said it is in discussions with Indonesian government entities to explore potential opportunities to resolve the shortfall issue. The oil and gas exploration and production company added that steam production and electricity generation at the field have not been affected.