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EXXON ANNOUNCES ANOTHER DISCOVERY IN MALAYSIA

 EXXON ANNOUNCES ANOTHER DISCOVERY IN MALAYSIA
 IRVING, Texas, Sept. 8 /PRNewswire/ -- Exxon Corporation (NYSE: XON)


announced today the discovery of oil at Block PM-8 in the Penara structure offshore Malaysia.
 The discovery, made by Esso Production Malaysia Inc., an Exxon affiliate, and PETRONAS Carigali Sdn. Bhd., the Malaysian national oil company, is the third discovery in the PM-8 block this year. The other discoveries were Serudon, made in January, and Bubu, discovered in April.
 Penara, situated 275 km off the coast of Terengganu, is located at the western part of the PM-8 area. Penara is located 15 km south of the 1991 North Lukut discovery. Esso is the operator for the block where it holds 80 percent of contractors' equity. PETRONAS Carigali holds the other 30 percent.
 Penara-1 was completed on Aug. 6, 1992. It intersected hydrocarbons between the depths of 1550 metres and 2350 metres. Three production tests were conducted and a combined flow rate of over 7400 barrels of 29 degree-47 degree API oil per day was achieved. It is likely an appraisal well will be required to firmly establish the volume of oil reserves in Penara.
 -0- 9/8/92
 /CONTACT: Exxon Public Affairs, 212-444-1107, 212-444-1108 or 212-444-1109/
 (XON) CO: Exxon Corporation ST: Texas IN: OIL SU: DSC


TS-KD -- NY031 -- 6975 09/08/92 11:35 EDT
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Date:Sep 8, 1992
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