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OCCIDENTAL ACQUIRES NEW EXPLORATION BLOCK IN PERU

 LOS ANGELES, March 25 /PRNewswire/ -- Occidental Petroleum Corp. (NYSE: OXY) today announced that Occidental del Amazonas Inc. has signed a risk-service contract with Petroperu, the Peruvian national oil company, to explore the 2.2 million-acre Block 4 located in the Maranon Basin east of the Andes mountains.
 Block 4 is 150 miles southwest of Occidental's Block 1AB, which is currently producing 62,000 barrels of oil per day. The Nor- Peruano pipeline, which transports crude oil over the Andes to the port of Bayovar, crosses Block 4 and has the capacity to accommodate production from any new discoveries.
 Occidental, as operator of the new block with a 100 percent interest, will conduct a 400 kilometer seismic program and, depending on the results, may elect to drill up to five exploratory wells.
 In announcing the new block, Dr. Ray R. Irani, chairman, president, and chief executive officer, said that Occidental will commence its exploration program immediately. "Block 4 has excellent potential for major discoveries that can be brought to market very quickly," he said.
 In 1992, Occidental began a 20-well development drilling program in Block 1AB and has drilled 12 successful oil wells. In addition to its 100 percent interest in Block 1AB, Occidental has a 63 percent interest in a waterflood operation on the northern coast at Talara, currently producing above 5,000 barrels per day.
 -0- 3/25/93
 /CONTACT: Howard Collins (media), 310-443-6523, or Kenneth J. Huffman (investors), 212-603-8183, both of Occidental Petroleum/
 (OXY)


CO: Occidental Petroleum Corp. ST: California IN: OIL SU:

KJ -- LA016 -- 9592 03/25/93 12:34 EST
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Publication:PR Newswire
Date:Mar 25, 1993
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