Occidental Petroleum, Mubadala and NOGA form joint operating company in Bahrain to further develop Bahrain Field

Notes and media contacts

About Oxy:

Occidental Petroleum Corporation is an international oil and gas exploration and production company with operations in the United States, Middle East/North Africa and Latin America regions. Oxy is the fourth largest U.S. oil and gas company, based on equity market capitalization. Oxy's wholly owned subsidiary, OxyChem, manufactures and markets chlor-alkali products and vinyls. Occidental is committed to safeguarding the environment, protecting the safety and health of employees and neighboring communities and upholding high standards of social responsibility in all of the company's worldwide operations.

About Mubadala Development Company:

Mubadala Development Company (Mubadala) is a business development and investment company that acts as a catalyst to realize Abu Dhabi's ambition to diversify and transform its economy, develop a new generation of business leaders and build a prosperous people for its people. By harnessing expertise and resources Mubadala generates sustainable financial returns and builds businesses, clusters of expertise and even whole new industries. Bringing together and managing a diverse portfolio of opportunities in areas such as energy, healthcare, technology, aerospace, and real estate, Mubadala invests for the long term as an active and diligent partner. Mubadala's sole shareholder is the Government of the Emirate of Abu Dhabi.

Mubadala Oil & Gas is a business unit within Mubadala that pursues acquisition, exploration and development opportunities in the Middle East, North and West Africa, and Central and Southeast Asia. Its portfolio of assets include Pearl Energy, a wholly-owned subsidiary of Mubadala that operates in four Southeast Asian countries, and exploration and production activities in Algeria, Libya, Oman and Kazakhstan. Current net working interest production from its participating interests in Dolphin Energy, the Mukhaizna field and Pearl Energy is over 300,000 barrels of oil equivalent per day (boepd).

Mubadala's sole shareholder is the Government of the Emirate of Abu Dhabi. For more information about Mubadala, its partnerships and activities please visit www.mubadala.ae.

About NOGA:

The National Oil and Gas Authority is the government body in Bahrain responsible for regulation, policy and control of the nation's hydrocarbon assets. The Oil and Gas Holding Company (nogaholding) is the business and investment arm of NOGA and steward of the Bahrain Government's investment in The Bahrain Petroleum Company (Bapco), The Bahrain National Gas Company (Banagas), The Bahrain National Gas Expansion Company (BNGEC), The Bahrain Aviation Fuelling Company (Bafco), The Bahrain Lube Base Oil Company, the Gulf Petrochemical Industry Company (GPIC), and Tatweer Petroleum.

For further information, kindly contact:

Richard S. Kline
Occidental Petroleum Corporation
Tel: +310-443-6249

Chris Stavros
Occidental Petroleum Corporation
Tel: +212-603-8184

Mubadala Development Company
Tel: +971 2 413 0000

Ali A.Jabbar Al-Sawad
NOGA
Tel: +973 1731 2633

Media contact:

Ginny Root
Manager, Business Intelligence
Communications & Public Affairs
Occidental Petroleum Corporation
Tel: +310 443-6549
Fax: +310 443-6744