-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, LsaLeO7FoZkskAs2ZdVLbUFXPUsc0YfhZwsDX7lMa5udi2Wv0p9eBmzMwd7dno89 b+j9L1nRnqrfowOe++XvYA== 0000716039-03-000075.txt : 20030715 0000716039-03-000075.hdr.sgml : 20030715 20030714194856 ACCESSION NUMBER: 0000716039-03-000075 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20030714 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20030715 FILER: COMPANY DATA: COMPANY CONFORMED NAME: UNOCAL CORP CENTRAL INDEX KEY: 0000716039 STANDARD INDUSTRIAL CLASSIFICATION: CRUDE PETROLEUM & NATURAL GAS [1311] IRS NUMBER: 953825062 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-08483 FILM NUMBER: 03786144 BUSINESS ADDRESS: STREET 1: 2141 ROSECRANS AVE STREET 2: STE 4000 CITY: EL SEGUNDO STATE: CA ZIP: 90245 BUSINESS PHONE: 3107267600 MAIL ADDRESS: STREET 1: 2141 ROSECRANS AVE STREET 2: STE 4000 CITY: EL SEGUNDO STATE: CA ZIP: 90245 8-K 1 u8k071403.txt SARULA SALE SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 8-K Current Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported) July 14, 2003 ------------------------ UNOCAL CORPORATION - -------------------------------------------------------------------------------- (Exact name of registrant as specified in its charter) Delaware - -------------------------------------------------------------------------------- (State or Other Jurisdiction of Incorporation) 1-8483 95-3825062 - -------------------------------------------------------------------------------- (Commission File Number) (I.R.S. Employer Identification No.) 2141 Rosecrans Avenue, Suite 4000, El Segundo, California 90245 - -------------------------------------------------------------------------------- (Address of Principal Executive Offices) (Zip Code) (310) 726-7600 - -------------------------------------------------------------------------------- (Registrant's Telephone Number, Including Area Code) Item 5. Other Events. On July 14, 2003, Unocal Corporation announced that its Unocal Sumatra Geothermal, Ltd. subsidiary has agreed to sell its rights and interest in the Sarulla geothermal project on the island of Sumatra, Indonesia to the Indonesian state electricity company. The full text of the press release is filed as an exhibit under Item 7(c) of this report. Item 7. Financial Statements and Exhibits. (c) Exhibits: 99. Press Release dated July 14, 2003, announcing agreement on Sarulla geothermal sale. Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. UNOCAL CORPORATION (Registrant) Date: July 14, 2003 By: /s/ JOE D. CECIL ------------------ ------------------------------- Joe D. Cecil Vice President and Comptroller -1- EX-99 3 exh99.txt SARULA SALE EXHIBIT 99 Unocal 2141 Rosecrans Avenue, Suite 4000 El Segundo, California 90245 [UNOCAL LOGO] NEWS RELEASE Contact: Barry Lane (Media) 310-726-7731 Robert Wright (Investors) 310-726-7665 Unocal unit, Indonesia's PLN, reach agreement on Sarulla geothermal sale El Segundo, Calif., July 14, 2003 - Unocal Corporation (NYSE: UCL) today said that its Unocal North Sumatra Geothermal, Ltd., subsidiary (UNSG) has reached agreement to sell its rights and interests in the Sarulla geothermal project on the Island of Sumatra, Indonesia, to PLN, the Indonesian state electricity company. Under the heads of agreement, PLN would acquire Unocal North Sumatra's interest in the Joint Operation Contract (JOC) with Pertamina and Energy Sales Contract (ESC) with PLN. The anticipated purchase price is US$60 million. The transaction is expected to close in September 2003. Unocal expects to record a gain on the transaction in the third quarter 2003. The JOC and ESC for the Sarulla project in North Sumatra were signed in 1993. Since then, the company has conducted extensive exploration activities, including drilling 13 wells in three separate prospects. In 1995, the first commercial geothermal resources were discovered in Silangkitang. In 1998, the project was postponed through a presidential decree due to the economic crisis in Indonesia. The presidential decree was later revoked. Unocal had hoped to help meet the power needs of North Sumatra and has been negotiating with PLN for a long-term contract solution. After several months of negotiations, the parties determined that Unocal's legal, technical, and commercial requirements to invest further in the project could not be satisfied. PLN's proposal to purchase the contracts from UNSG became a preferred option for settling the contract issues. This news release contains certain forward-looking statements about expected business transactions and potential revenues. These statements are not guarantees of future performance. The statements are based upon Unocal's current expectations and beliefs and are subject to a number of known and unknown risks and uncertainties that could cause actual results to differ materially from those described in the forward looking statements. Actual results could differ materially as a result of factors discussed in Unocal's 2002 Annual Report on Form 10-K (SEC File No. 1-8483) and other reports filed with the U.S. Securities and Exchange Commission. Unocal undertakes no obligation to update the information in this news release. Copies of the Unocal's SEC filings are available from the company by calling 800-252-2233. The reports are also available on the Unocal web site, www.unocal.com. You can also obtain this form from the SEC by calling 800-SEC-0330. -----END PRIVACY-ENHANCED MESSAGE-----