ENERGY
From Times Staff and Wire Reports
Oxy Wins Joint Venture in Republic of Komi: Occidental Petroleum Corp. said its subsidiary, Occidental of the Republic of Komi Inc., has signed a contract with Ukhtaneftegasgeologica (UNGG), one of the republic’s oil and gas enterprises, to form a joint exploration venture in an area west of the Ural Mountains and just south of the Arctic Circle. Los Angeles-based Oxy will pay all exploration costs and retain a 75% interest in the 1.5-million-acre area known as Block 15. Komi is an autonomous region within the Russian Federation.
