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CHEVRON JOINT VENTURE AWARDED EXPLORATION CONTRACT IN COASTAL REGION OF NAMIBIA

 CHEVRON JOINT VENTURE AWARDED EXPLORATION CONTRACT
 IN COASTAL REGION OF NAMIBIA
 SAN FRANCISCO, Sept. 10 /PRNewswire/ -- Chevron announced today that the Ministry of Mines and Energy of the Government of the Republic of Namibia has awarded an exploration license to Chevron Overseas (Namibia) Ltd. and its joint venture partner, Eagle Energy (Namibia) Limited, to explore Area 2815, a 4,200-square-mile (10,850 square-kilometer) block in the Orange River Basin off the southern coast of Namibia. The duration of the agreement is four years with option for renewal.
 Area 2815, located approximately 430 miles southwest of the capital city of Windhoek, lies to the east of the Kudu natural gas discovery, drilled by Chevron and its former partners in 1974.
 Kudu was the first hydrocarbon discovery in the country, then known as the Territory of South West Africa.
 Chevron Overseas (Namibia) Ltd. will hold a 60 percent interest in Area 2815, and will serve as operator. Eagle Energy, a wholly owned subsidiary of Gencor, holds the remaining 40 percent interest.
 "We are very happy to have been chosen by the Namibian Government to explore the potential of this region," said Dr. Luigi Caflisch, Managing Director of the Africa Business Unit of Chevron Overseas Petroleum, Inc., the wholly owned subsidiary which manages Chevron Corporation's exploration and producing operations outside the United States.
 "We are happy to return to Namibia after a near 20-year absence, and we are anxious to expand our existing West African operations from Nigeria, Congo, Zaire and Angola, to now include Namibia. We will begin operations as soon as possible," he said.
 Dr. Caflisch explained that Chevron first began searching for oil and natural gas in Namibia in 1968. The company was operator for itself and its partners in several exploration areas until 1975 when Chevron relinquished its holdings.
 Fourteen years later, in anticipation of the independence of Namibia, Chevron began the work which culminated in today's exploration award. Namibia was granted its independence on March 20, 1990.
 Chevron will open an office in Windhoek by year end.
 -0- 9/10/92
 /CONTACT: Jan Golon of Chevron Corp., 212-303-3833/
 (CHV) CO: Chevron ST: IN: OIL SU: JVN


RM -- SF001 -- 7818 09/10/92 08:02 EDT
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Date:Sep 10, 1992
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