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Occidental Agrees To Sell Block In Peru

LOS ANGELES, Dec. 17, 1999 -- Occidental Petroleum Corporation (NYSE:OXY) said today that it has agreed to sell its 100 percent interest in Block 1-AB in Peru to Pluspetrol Peru Corporation, the Peruvian subsidiary of Pluspetrol Resources Corporation.

Occidental is retaining its exploration interests in Peru on Block Z-3 and Block 64.

Terms were not disclosed.

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           Kenneth J. Huffman
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