Unocal boosts Thai operation

Unocal boosts Thai operation

BANGKOK (Dow Jones): Unocal Corp. plans to continue investing
US$150 million to $200 million a year in its Thailand operations
for at least the next several years, thanks to renewed enthusiasm
about the nation's economic growth potential, subsidiary Unocal
Thailand Ltd. President Randy Howard said Friday.

Howard told Dow Jones Newswires that Unocal's "mood" toward
natural gas exploration and production in Thailand changed about
midyear last year, when Thai gross domestic product growth
projections took a marked turn for the better.

"GDP growth directly impacts natural gas and power demand,"
Howard said. "We've seen a very steady eight-to-nine month power
growth trend. And this has been industrial sector growth, not
just people running their air conditioners longer. It's real
growth. So that's at least part of the basis for our confidence
(in Thailand)."