OCCIDENTAL SCHEDULES RUSSIAN E&D JOINT VENTURE

A unit of Occidental Petroleum Corp. is on its way to acquiring joint venture exploration and development rights on a big block of acreage in Russia's Komi Republic with a high bid of $10.1 million. Oxy made its offer in the Komi Republic's first round of competitive bidding for acreage. Oxy's Block 15, covering 1.5 million acres, lies in the Timan-Pechora basin. Oxy said 4 billion bbl of oil have been found in the basin. Elsewhere in the Russian Federation, a group led by Marathon

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