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OCCIDENTAL ANNOUNCES FOURTH GAS DISCOVERY IN MALAYSIA

 LOS ANGELES, April 22 /PRNewswire/ -- Occidental Petroleum Corp. announced today that Occidental Petroleum (Malaysia) Ltd. has made a major gas discovery in a carbonate reef offshore East Malaysia in the 4.2-million-acre Block SK-8.
 Serai-1, the discovery well, is located three miles southwest of the large Jintan gas field discovered in April 1992 by Occidental and is the company's fourth natural gas discovery in the block. It brings to more than 5 trillion cubic feet the combined gas-in-place of the four fields.
 Serai-1 flowed at an aggregate daily rate of 133 million cubic feet of gas and 2,262 barrels of 41-42-degree API gravity condensate from separate tests of two zones totaling 263 feet in a gross gas column of 564 feet. The gas contains approximately 3 percent carbon dioxide and negligible hydrogen sulfide. Water depth is 407 feet.
 The lower zone flowed at a test separator limited daily rate of 67 million cubic feet of gas and 1,162 barrels of 40.8-degree API gravity condensate through a 1 1/2-inch choke from 99 feet of perforations between 6,112 feet and 6,211 feet subsea. The upper zone flowed at a maximum daily rate of 66 million cubic feet of gas and 1,100 barrels of 42.7-degree API gravity condensate through a 1 1/2-inch choke from 164 feet of perforations between 5,768 feet and 5,932 feet subsea.
 Dr. Ray R. Irani, chairman, president and chief executive officer of Occidental, said, "A preliminary analysis indicates the Serai discovery will significantly add to the recoverable gas present in Block SK-8, which will support the construction of a new liquefied natural gas facility in East Malaysia. The proximity of Serai to the Jintan field will minimize the pipeline and production facilities required to transport gas to the LNG plant."
 A group under the direction of Petroliam Nasional Berhad (Petronas) and including Occidental and Nippon Oil Exploration (Malaysia) Ltd. has begun studies for a new LNG project and an optimum development plan for the natural gas fields.
 The LNG plant would be developed by the parties through a joint venture company in which Petronas would take 70 percent of the equity in the plant, and the remaining 30 percent would be held by Occidental and Nippon. It is expected that the joint venture company will be formed before year end. The LNG project under study would make Malaysia the largest supplier of LNG to the rapidly expanding East Asian market.
 The Jintan discovery well was tested in April 1992 at 32.9 million cubic feet of gas and 832 barrels per day of condensate. In November, Jintan-2 flowed 64.4 million cubic feet of gas and 620 barrels per day of condensate.
 Occidental is the operator of Block SK-8, with a 37.5 percent interest. Nippon Oil Exploration Sarawak (Ltd) holds a 37.5 percent interest, and Petronas Carigali holds the remaining 25 percent interest.
 -0- 4/22/93
 /CONTACT: Howard Collins (media), 310-443-6523, or Kenneth J. Huffman (investors), 212-603-8183, both of Occidental Petroleum/


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

KJ-EH -- LA038 -- 9639 04/22/93 15:29 EDT
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Publication:PR Newswire
Date:Apr 22, 1993
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