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OCCIDENTAL ANNOUNCES OIL DISCOVERY IN OMAN NEAR SAFAH FIELD

 OCCIDENTAL ANNOUNCES OIL DISCOVERY IN OMAN NEAR SAFAH FIELD
 LOS ANGELES, Jan. 6 /PRNewswire/ -- Dr. Ray R. Irani, chairman, president and chief executive officer of Occidental (NYSE: OXY), announced today that Occidental of Oman has successfully tested a new field exploratory well in the 2.9-million-acre Suneinah Block in Oman.
 Irq al Katarah-1 flowed at a stabilized rate of 1,150 barrels per day of 38 degree API gravity oil with a gas/oil ratio of 450 cubic feet per barrel on a 1/2-inch choke from 32 feet of perforations between 4,686 feet and 4,730 feet in the Upper Shuaiba carbonate formation. The flowing tube pressure was 395 PSIA.
 The discovery well is located 24 miles from Occidental's 26,000 barrel-per-day Safah field, which also produces from the Shuaiba formation and has a proved ultimate recovery of 120 million barrels. Additional drilling will be required to determine the extent of the discovery.
 In announcing the discovery, Dr. Irani stated that the new field would be producing before mid-year. "We are fortunate that the field is in close proximity to production and pipeline facilities which will insure early production. The discovery is the result of our strategy to explore for reserves in basins where oil and gas are known to exist and where existing infrastructure and facilities can provide excellent incremental profitability."
 Occidental is the operator of the Suneinah Block with a 65 percent working interest. Neste Oy, a Finnish company, has the remaining 35 percent interest.
 -0- 1/6/92
 /CONTACTS: Howard Collins (media), 213-443-6523, or Kenneth J. Huffman (investors), 212-603-8183, both of Occidental Petroleum/
 (OXY) CO: Occidental Petroleum ST: California IN: OIL SU: DSC


KJ -- LA017 -- 6950 01/06/92 13:32 EST
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Publication:PR Newswire
Date:Jan 6, 1992
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