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TEXACO AND BHP AWARDED SECOND CONTRACT IN BOHAI BAY

 TEXACO AND BHP AWARDED SECOND CONTRACT IN BOHAI BAY
 WHITE PLAINS, N.Y., April 7 /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 Nan 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 11/19.
 The area is located about 185 kilometers (115 miles) south/southeast of the City of Tianjin in the Bohai Bay. Water depth is relatively shallow with an average of about 20 meters (65 feet).
 Contract Area 11/19 has an area of about 5,600 square kilometers (1.38 million acres). The Texaco and BHP companies shall each hold a 50-percent interest in the contract area. In addition, Texaco and BHP units each also hold a 50-percent interest in Contract Area 06/17 in the Bohai Bay.
 BHP, as 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 mid-1992.
 -0- 4/7/92
 /NOTE TO EDITORS: A map of Contract Area 11/19 is available upon request/
 /CONTACT: Jim Swords of Texaco, 914-253-4103/
 (TX) CO: Texaco Inc.; BHP Petroleum (China) Inc. ST: New York IN: OIL SU: CON


TS -- NY035 -- 5836 04/07/92 12:23 EDT
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Publication:PR Newswire
Date:Apr 7, 1992
Words:254
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