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TEXACO BEGINS PRODUCTION IN HUIZHOU 26-1 FIELD IN SOUTH CHINA SEA

     TEXACO BEGINS PRODUCTION IN HUIZHOU 26-1 FIELD IN SOUTH CHINA SEA
    WHITE PLAINS, N.Y., Nov. 15 /PRNewswire/ -- Texaco Petroleum Maatschappij (Nederland) B.V., a subsidiary of Texaco Inc. (NYSE: TX), operating in China with AGIP (Overseas) Ltd., Chevron Overseas Petroleum Ltd., and the Nanhai East Oil Corporation (NHEOC), today announced that oil production commenced Nov. 12, 1991, in the Huizhou 26-1 field.
    The Huizhou 26-1 field, 175 kilometers (110 miles) southeast of Hong Kong, is the second commercial oil field in the Pearl River Mouth Basin of the South China Sea jointly developed by NHEOC of the China National Offshore Oil Corporation (CNOOC) and ACT Operators Group.  ACT consists of Texaco Petroleum Maatschappij (Nederland) B.V., AGIP (Overseas) Ltd., and Chevron Overseas Petroleum, Ltd.  Texaco, AGIP and Chevron each hold an equity interest in the field of 16.3 percent, with CNOOC having a 51 percent interest.
    A peak production rate from the Huizhou 26-1 field of about 40,000 barrels of oil per day (5,330 tons per day) is expected to be reached in 1992.  Together, production from the Huizhou 21-1 field, which came on stream in September 1990, and the Huizhou 26-1 field is also expected to peak in 1992 at a combined rate of about 60,000 barrels of oil per day (7,900 tons per day).
    Oil production from the Huizhou 26-1 eight-leg platform will flow 25 kilometers (16 miles) in a 12-inch insulated pipeline to an existing 250,000 dead-weight-ton floating production storage offloading (FPSO) tanker located at the Huizhou 21-1 field.  The oil will be transferred from the FPSO to shuttle tankers for transportation to terminal locations.  The FPSO can be disconnected through a buoyant turret mooring (BTM) system in case of an approaching typhoon.
    In addition to major technical and economic achievements, development of the Huizhou 21-1 field and the Huizhou 26-1 field represents the strong cooperation between CNOOC/NHEOC and Texaco/AGIP/ Chevron for the exploration and development of the petroleum potential of offshore China.
    -0-                   11/15/91
    /NOTE TO EDITORS:  A map of the Huizhou 21-1 field and the 26-1 field is available upon request./
    /CONTACT:  David J. Dickson of Texaco, 914-253-4128/
    (TX) CO:  Texaco Inc. ST:  New York IN:  OIL SU: GK -- NY018 -- 1398 11/15/91 09:27 EST
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Copyright 1991 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Nov 15, 1991
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