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EXXON SIGNS EAST CHINA SEA CONTRACT

 IRVING, Texas, Nov. 30 /PRNewswire/ -- Esso China Limited, a subsidiary of Exxon Corporation (NYSE: XON), today signed a production sharing contract (PSC) in Beijing with China National Offshore Oil Corporation (CNOOC) for acreage in the East China Sea.
 The contract gives Exxon the right to explore and develop Block 34/02, located 250 miles (402 kilometers) southeast of Shanghai. The 525,000-acre block (2,129 square kilometers) has an average water depth of 295 feet (90 meters). Exxon has a 100 percent interest in the block.
 Exxon plans to begin acquiring seismic data by mid-year 1994 after which it plans to drill at least one exploration well.
 The PSC was signed by J. L. Thompson, president of Exxon Exploration Company. "Exxon has been involved in oil and gas exploration activities in China for many years," Thompson said. "We are pleased to have the opportunity to explore in the new area and look forward to continuing and expanding our relationship with the CNOOC."
 -0- 11/30/93
 /CONTACT: Ed Burwell, Exxon Corp., 214-444-1108/
 (XON)


CO: Exxon Corporation ST: Texas IN: OIL SU: CON

GK -- NY051 -- 8681 11/30/93 11:10 EST
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Publication:PR Newswire
Date:Nov 30, 1993
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