ENERGY

Unocal Unit to Participate in Caspian Sea Project: Unocal Corp. said its Unocal Khazar subsidiary signed a notice of acceptance for 16% of a foreign-company consortium’s participation in the development of three Caspian Sea oil fields. Los Angeles-based Unocal said the State Oil Co. of Azerbaijan may take a 30% participation of that under the terms of the agreement. Unocal said its net participating interest in the project will probably be about 9.5%, after deducting SOCAR’s 30% and about 1.7% for Unocal’s co-venturers.