RUSSIAN UPSTREAM JOINT VENTURES LOGGING PROGRESS

Occidental Petroleum Corp. has begun exporting oil from Russia as part of an enhanced recovery joint venture in western Siberia. Ray R. Irani, Oxy chairman, president, and chief executive officer, said the venture's partially developed fields currently produce 40,000 b/d of 37 gravity oil from 100 wells. Gross production is expected to increase to about 65,000 b/d by 1994. Gross recoverable oil is estimated at more than 320 million bbl. Oxy holds a 50% interest in the joint venture

Nov 2nd, 1992
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