Article: UNOCAL AWARDED ANDAMAN SEA EXPLORATION BLOCKS

EL SEGUNDO, Calif., June 19 /PRNewswire/ -- Unocal Corporation (NYSE: UCL) today said its Unocal Bangkok, Ltd., subsidiary has signed a petroleum concession agreement with Thailand's Ministry of Industry for two blocks in the Andaman Sea under Thailand's 14th Bid Round.

The two blocks, W8/38 and W9/38, cover more than 18,750 square miles in the Mergui Basin and the northern part of the North Sumatra Basin. The blocks are in deep water off Thailand's southwest coast, approximately 30 miles west and southwest of Phuket. In the early 1970s, Unocal explored in the same area, discovering natural gas in 1976. The find was deemed sub-commercial at the time because no gas ...

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