Unocal buys partner shares

Unocal buys partner shares

EL SEGUNDO, California (Dow Jones): Affiliates of Unocal
Corporation, Unocal Makassar, Ltd., and Unocal Rapak, Ltd., said
on Thursday they have agreed to purchase respective interest in
Production Sharing Contracts for blocks offshore East Kalimantan,
Indonesia from affiliates of ExxonMobil, Mobil Makassar Inc. and
Mobil Rapak Inc.

The purchase is subject to approval by the government of
Indonesia and Pertamina and no timetable for closing has been
announced.

Unocal is one of the world's leading independent natural gas
and crude oil exploration and production companies. The company
also focuses on pipeline and power plant projects in Asia and the
Americas.