ARCO PLANS OUTLAYS OF $13.5 BILLION THROUGH 1997

ARCO plans capital spending of $13.5 billion for 1993 through 1997. Investment in Alaskan exploration and development projects is expected to account for $3.4 billion, or about 25% of the 5 year total, ARCO told analysts in New York. Non-U.S. E&D will absorb $3.7 billion, or 27%, of the 5 year program, notably for major natural gas field development projects in Indonesia and the South China Sea. ARCO Oil & Gas Co.'s 5 year budget is $1.7 billion, or 13% of the total, with development

April 26, 1993

2 min read

ARCO plans capital spending of $13.5 billion for 1993 through 1997.

Investment in Alaskan exploration and development projects is expected to account for $3.4 billion, or about 25% of the 5 year total, ARCO told analysts in New York.

Non-U.S. E&D will absorb $3.7 billion, or 27%, of the 5 year program, notably for major natural gas field development projects in Indonesia and the South China Sea.

ARCO Oil & Gas Co.'s 5 year budget is $1.7 billion, or 13% of the total, with development projects in the U.S Lower 48 accounting for most of that spending.

Refining/marketing outlays at ARCO Products Co. will account for $2.1 billion, or 15% of the program total. About one third of those outlays will go to comply with federal, state, and local clean air and other environmental regulations.

Among other ARCO division spending the next 5 years:

ARCO Chemical Co., in which ARCO holds an 83.4% interest, will spend $1.9 billion, or 14% of the projected total.
ARCO Transportation Co. will spend a little more than $300 million.
ARCO Coal Co., near completion on a new mine development in Australia, will spend a little more than $300 million during the forecast period.