Unocal to provide additional $3 million in longer term tsunami relief and recovery
El Segundo, Calif., Jan. 10, 2005 - Unocal Corporation (NYSE:UCL) announced today that it will provide an additional $3 million to assist with longer term recovery and reconstruction needs for communities in Indonesia and Thailand affected by the tsunami.
"This commitment represents our recognition of the role that our company has played in these countries for many decades and our interest in helping our friends meet their longer term recovery needs in the aftermath of this devastating natural disaster," said Unocal CEO Chuck Williamson. "Our relationships with the people in this region span nearly 40 years. Unocal has approximately 2,000 employees in Indonesia and 1,000 employees in Thailand, and many valued, mutually beneficial partnerships with our host governments and communities."
Unocal has already provided immediate and near-term disaster assistance totaling $275,000 from the corporation, Unocal Foundation, business units and employees in the U.S., Thailand, Indonesia and Myanmar. Many employees have lent a hand following this disaster.
Unocal Thailand, for example, has provided in-kind assistance, including medical and emergency supplies and use of the company helicopter to transfer patients from Ta Kua Pa Hospital to hospitals in Ranong and Songkhla provinces. Employees of Northrock/Unocal Canada have also raised contributions, which have been matched by the Canadian government. The disbursement of the $3 million will be overseen by Unocal Foundation's Board of Directors. Projects will be developed in collaboration with the host governments and implemented in partnership with qualified organizations, including those with whom Unocal already has existing relationships. Priority will be given to children's welfare, rebuilding schools and medical clinics, helping provide fresh water and sanitation, and other long-term community sustainability.
Unocal Foundation will also match employee contributions for disaster relief through its Workplace Giving Program. Employees who make a contribution to the International Federation of the Red Cross (or U.S. employees who earmark contributions to the American Red Cross International Response Fund) will be matched on two-for-one basis, which means Unocal Foundation will contribute $2 for every $1 contributed by Unocal employees to the IFRC.
About Unocal Corporation
Unocal is one of the world's leading independent natural gas and crude oil exploration and production companies. The company's principal oil and gas activities are in Asia and North America. For more information about Unocal, visit the company's web site at www.unocal.com.
Updated: January 2005