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EXXON AND FOUR OTHER COMPANIES TO EVALUATE CHINA'S TARIM BASIN

 IRVING, Texas, Aug. 30 /PRNewswire/ -- Exxon Corporation (NYSE: XON) today announced that it agreed with Mobil, British Gas Exploration and Production Limited, Sumitomo Corporation, and Indonesia Petroleum, Ltd. (Inpex) to form a bidding consortium to evaluate five blocks in China's southeast Tarim Basin. Exxon will be operator for the group.
 This acreage was first offered by the China National Petroleum Corporation this spring. It is the first round of blocks offered for oil and gas exploration in the Tarim Basin with bids being due Oct. 31, 1993. The interests of the consortium members will be as follows: Exxon 35 percent, Mobil 35 percent, British Gas 15 percent, Sumitomo 7.5 percent, and Inpex 7.5 percent. The Tarim Basin is located in the Uygur Autonomous Region of Xinjiang Province in western China.
 Exxon's involvement with the consortium will be via Esso China Limited, an affiliated company of the Exxon Exploration Company which is responsible for the corporation's worldwide oil and gas exploration.
 -0- 8/30/93
 /CONTACT: Doug Walt of Exxon Corp., 214-444-1109 or -1107/
 (XON)


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

PS -- NY024 -- 6965 08/30/93 09:15 EDT
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Publication:PR Newswire
Date:Aug 30, 1993
Words:193
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