press release

Chevron Press Release - Chevron Discovers Oil Offshore Zaire

SAN RAMON, Calif., Sept. 6, 1994 -- Chevron today announced that it has made an encouraging oil discovery off the coast of Zaire.

The discovery was made from the Tshiala exploratory well, which in August tested 1,476 barrels of oil a day from perforations between 7,670 and 8,215 feet in the Lower Pinda formation.

Chevron will appraise the discovery through delineation drilling and an early production system. The discovery is located approximately five miles from existing Chevron production facilities.

Chevron, which has been active in Zaire for 25 years, operates through Zaire Gulf Oil Company, a wholly owned subsidiary. It holds a 50-percent interest in a 390-square-mile concession offshore Zaire. Partners in the venture are Zaire Petroleum Company (Teikoku), with a 32.28-percent interest; and Unocal International Corporation, with a 17.72-percent interest.

Updated: September 1994