EXHIBIT 99.3


                      UNION TEXAS PETROLEUM
                           (LETTERHEAD)

NEWS RELEASE

Contact:    Carol L. Cox
            (713) 968-2714

          UNION TEXAS PETROLEUM UPDATES OFFSHORE
                VIETNAM EXPLORATION PROGRAM

     Houston, September 22, 1995 -- Union Texas Asia
Corporation, a wholly-owned subsidiary of Union Texas
Petroleum Holdings, Inc., today issued an update on the
exploration drilling program in the South Con Son Basin
offshore Vietnam.

     The 04-2-HT-01X well, which is the first exploration
well of a two-well program for 1995, commenced drilling on
July 12, 1995.  The well was plugged and abandoned on
September 21, 1995.  The well reached a total depth of 4,548
meters (14,922 feet).  Although gas shows were encountered
over a large interval while drilling, no flow tests were
conducted due to poor reservoir quality.

     The second well of the 1995 exploration program is
expected to begin drilling operations within the next several
days.  The well will be situated approximately 17 miles
southwest of 04-2-HT-01X.

     The wells are located on the 628,000-acre Block 04.2 in
the South Con Son Basin in the South China Sea, about 125
miles southeast of Vung Tau.  The venture is operated by LASMO
Vietnam Limited, a subsidiary of LASMO plc, which has a 37.5%
working interest in the block.  Union Texas Asia has a 25%
working interest.  The remaining 37.5% working interest is held
by CIECO Con Son, Inc.

     One of the largest independent producers located in the
U.S., Houston-based Union Texas Petroleum Holdings, Inc.
(NYSE: UTH) explores for and produces oil and gas overseas
primarily in the U.K. North Sea, Indonesia and other
strategic areas.  The company has petrochemical operations
in Louisiana.

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