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TEXACO AND BHP AWARDED PETROLEUM CONTRACT IN BOHAI BAY

 TEXACO AND BHP AWARDED PETROLEUM CONTRACT IN BOHAI BAY
 WHITE PLAINS, N.Y., Nov. 27 /PRNewswire/ -- Texaco Petroleum


Maatschappij (Nederland) B.V., a subsidiary of Texaco Inc. (NYSE: TX), operating in China, today announced that as a result of the recently completed Joint Study of the Bo Dong Area in the Bohai Bay, the Texaco subsidiary and BHP Petroleum (China) Inc. have reached agreement and signed a petroleum contract with China National Offshore Oil Corporation (CNOOC), to explore for oil and natural gas in Contract Area 06/17, located about 190 kilometers (120 miles) east of the City of Tianjin in the Bohai Bay. Water depth is relatively shallow with an average of about 20 meters.
 Contract Area 06/17 has an area of about 4,973 square kilometers (1,228,750 acres). Texaco and BHP shall each hold a 50-percent interest in the contract area.
 Texaco, as the operator, will be working in cooperation with the Bohai Oil Corporation (BOC) of CNOOC for the implementation of the petroleum contract. Seismic operation is scheduled to begin in early 1992.
 -0- 11/27/91
 /NOTE TO THE EDITOR: A map of the Contract Area 06/17 is available upon request/
 /CONTACT: James J. Swords of Texaco, 914-253-4103/
 (TX) CO: Texaco Petroleum Maatschappij (Nederland B.V.) ST: New York IN: OIL SU: CON


TS -- NY027 -- 7739 11/27/91 12:44 EST
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Publication:PR Newswire
Date:Nov 27, 1991
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