press release

Texaco Press Release - John J. O'Connor Joins Texaco as President of Worldwide Exploration

Broad International Perspective, Track Record of Success Bolsters Upstream Team

FOR RELEASE: MONDAY, DECEMBER 15, 1997.

WHITE PLAINS, N.Y., Dec. 15 - John J. O'Connor is joining Texaco as President of Worldwide Exploration and Production, and has been elected a Senior Vice President of the company, effective January 1, 1998, Texaco Inc. Chairman and Chief Executive Officer Peter I. Bijur announced today. O'Connor, 51, most recently served as Chief Executive Officer of BHP Petroleum in Melbourne, Australia, the oil and gas exploration division of Broken Hill Proprietary Company, Ltd. O'Connor also was a Director of Broken Hill Proprietary Company, Ltd.

"John O'Connor is a respected and accomplished upstream executive with extensive international experience," said Bijur in making the announcement. "He is therefore uniquely qualified to lead this company's upstream business units as they expand throughout the world. His high-energy, results-driven leadership style will be a strong addition to our worldwide upstream management team."

In addition to his upstream responsibilities, O'Connor will serve on Texaco's Executive Council, which is charged with setting corporate strategy and ensuring execution of priorities.

O'Connor replaces Texaco Inc. Senior Vice President C. Robert Black, who will now be responsible for developing and managing Texaco's relationships with industry and have oversight responsibility for Texaco's Technology Division.

O'Connor was graduated from University College in Dublin, Ireland, in 1967 with a bachelor of science degree in mechanical engineering. The following year he received a master of science degree in mechanical engineering from the same school.

As CEO of BHP Petroleum (one of five main business divisions of Broken Hill Proprietary Company, Ltd.) from 1994 to 1997, O'Connor was responsible for restructuring and substantially improving the profitability of the business, making it the main profit center for the international conglomerate.

Prior to joining BHP, O'Connor was with Mobil Oil Corporation for 26 years, where he held a series of positions with increasing responsibility, including General Manager - International Negotiations & Acquisitions (1988), Chairman, President and CEO of Mobil Oil Canada (1988 - 90), Vice President - Middle East and Marine Transportation (1990 - 92), Vice President - Corporate Strategic Ventures Group (1992 - 93), and Executive Vice President - Exploration and Production, Europe/Africa/Russia (1993 - 94).

O'Connor has worked and lived in most key upstream regions during his 30 years in the energy industry, including the U.S., Canada, Australia, Indonesia, the Middle East, Europe and Africa.

O'Connor, an Irish citizen, is married and has three children. He will be located at Texaco's offices in Harrison, N.Y.

Updated: December 1997