CHEVRON LISTS SUCCESS IN NON-U.S. E&D PROGRAM

Chevron Corp's campaign to step up exploration and development outside the U.S. is paying off.

A yearend 1993 tally by the company shows these results:

North Sea Chevron U.K. Ltd. found oil in late October with a wildcat drilled 130 miles northeast of Aberdeen. The new field, named Parliament, is less than 4 miles from Chevron's Alba oil field, where the company is about to start production.

Alba overlies yet another field, Britannia, which Chevron terms one of the North Sea's largest gas fields. Chevron and Conoco are joint operators for development of Britannia, with production start up scheduled for 1998.

Chevron operates the block on which the Parliament discovery lies. "We and our partners regard this as a promising satellite for Alba field," said Charles Smith, Chevron U.K. managing director

Nigeria Chevron Nigeria Ltd. drilled three oil discoveries in 1993, all described as small to medium size. In addition, the placed on stream five new oil fields company with combined production of about 60,000 b/d. The five fields boost the number of Chevron operated fields in Nigeria to 23.
Papua New Guinea Chevron Niugini Pty. Ltd. discovered oil in December with a wildcat drilled about 40 miles southeast of Kutubu field, New Guinea's first producing oil field. Kutubu, where Chevron is operator for a joint venture, went on stream in June 1992. The field currently produces about 134,000 b/d of oil.

Chevron's new strike lies about 9 miles northwest of Southeast Gobe field, which Chevron and partners are considering developing. The discovery marks the third oil reservoir confirmed along the 26 mile long Gobe anticline trend, most of which lies within the Chevron group's license block. The trend also is near the group's pipeline to an offshore export terminal in the Gulf of Papua.

The new discovery is on Petroleum Prospecting License 161 where interests are Chevron and a unit of British Petroleum Co. plc 25% apiece, Ampolex Ltd. 21.233%, BHP Petroleum 12.5%, Oil Search 10.017%, and Japan PNG Petroleum 6.25%.

Chevron announced in mid 1992 its intent to increase exploration and production spending to international targets.

In 1993, about 75% of the company's capital and exploration outlays were outside the U.S., compared with about 50% as recently as 1990.

Richard Matzke, president of Chevron Overseas Petroleum Inc., noted that these recent discoveries lie in areas with production infrastructures.