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TEXACO ANNOUNCES YEAR-END 1992 PETROLEUM RESERVES; RESERVE ADDITIONS REPLACE 94 PERCENT OF 1992 PRODUCTION; 5-YEAR AVERAGE: 105 PERCENT

 WHITE PLAINS, N.Y., March 12 /PRNewswire/ -- Texaco Inc. (NYSE: TX) today announced that at year-end 1992 it had 2.7 billion barrels of worldwide net proved liquid reserves and 6.07 trillion cubic feet of worldwide net proved natural gas reserves, including equity reserves in an affiliate.
 For 1992, finding and development costs were $4.88 per barrel of oil equivalent, continuing the competitive performance of prior years, resulting in finding and development costs averaging $4.48 over the 1990-1992 period.
 "Texaco's reserve addition program with its continued competitive finding costs represents solid performances across our entire operations," said James W. Kinnear, president and chief executive officer of Texaco Inc. "We continued to focus our exploration and production activities by emphasizing a value-added strategy, stressing not just volume replacement, but concentrating on maximizing the value of reserves added over what we spend each year on exploration and development."
 Kinnear also noted that the company's strong technological position was again important to the positive results achieved through methods such as enhanced oil recovery, subsea production methods and horizontal drilling, all of which enhance the ability to reach and recover identified reserves.
 On a worldwide basis for 1992, Texaco added volumes to its reserve base equal to 94 percent of its combined oil and gas production, including equity reserves, but excluding purchases and sales. U.S. and international reserve replacement ratios were 82 percent and 120 percent respectively. On a three-year basis, 1990-1992, the company's overall reserve additions averaged 105 percent.
 Recognizing the technological contributions to this year's results, Kinnear commented, "Our use of 3-D seismic technology and other state- of-the-art exploration technologies produced promising discoveries in Malaysia, Myanmar and Tunisia."
 He also stated that the company's commitment to advanced recovery technology was the basis for the Indonesian government's extension of the major production sharing agreement covering key Sumatran acreage for an additional 20 years, to 2021.
 /NOTE TO EDITORS: A data sheet is attached showing Texaco's worldwide and domestic reserves for the last three years/
 TEXACO'S RESERVE PICTURE
 THREE-YEAR SUMMARY
 (Including Equity in P.T. Caltex Pacific Indonesia)
 Net Proved Production
 Reserves(A) Replacement Percentage(B)
 1992
 Worldwide Reserves:
 Liquids 2,700 99
 Natural Gas 6,070 84
 U.S. Reserves:
 Liquids 1,500 77
 Natural Gas 4,526 88
 Worldwide Combined
 Liquids and Gas(C): 3,712 94
 1991
 Worldwide Reserves:
 Liquids 2,711 87
 Natural Gas 6,277 122
 U.S. Reserves:
 Liquids 1,547 72
 Natural Gas 4,697 91
 Worldwide Combined
 Liquids and Gas(C): 3,757 98
 1990
 Worldwide Reserves:
 Liquids 2,753 121
 Natural Gas 6,138 119
 U.S. Reserves:
 Liquids 1,600 121
 Natural Gas 4,849 106
 Worldwide Combined
 Liquids and Gas(C): 3,776 120
 (A) -- Estimated net proved developed and undeveloped reserves in millions of barrels of liquids and billions of cubic feet of gas.
 (B) -- Excludes purchases and sales of reserves.
 (C) -- In millions of barrels of oil equivalent, with gas converted to its oil equivalent at 6,000 cubic feet per barrel.
 -0- 3/12/93
 /CONTACT: Dave Dickson, 914-253-4128, or Jim Swords, 914-253-4103, both of Texaco/
 (TX)


CO: Texaco Inc. ST: New York IN: OIL SU:

TS -- NY049 -- 5564 03/12/93 14:12 EST
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