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                                                                    EXHIBIT 99.3

                                                                   NEWS RELEASE

[UNION TEXAS PETROLEUM LETTERHEAD]

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


             UNION TEXAS PETROLEUM TO ACQUIRE 25% STAKE IN OFFSHORE

                     IRELAND BLOCKS IN ST. GEORGE'S CHANNEL


         Houston, February 6, 1995 -- Union Texas Petroleum Holdings, Inc.
today announced that Union Texas Petroleum Limited, its wholly-owned
London-based subsidiary, has entered into an agreement to acquire a 25% working
interest in five and a half offshore blocks located in St. George's Channel
between Ireland and Great Britain.

         The blocks are situated offshore Ireland, about 15 miles east of the
town of Wexford.  Water depths in the area range from 200 to 300 feet.  The
blocks, the nearest of which is located about five miles northwest of a gas
discovery by Marathon Oil U.K., Limited, encompass a total of about 345,000
acres.

         Union Texas Petroleum Limited has agreed to acquire its interest in
the blocks from Marathon Petroleum Ireland, Ltd. and Marathon Petroleum
Hibernia, Ltd., both wholly-owned subsidiaries of Marathon Oil Company
(NYSE:MRO).  Marathon is operator of the blocks and retains the remaining 75%
interest.  The blocks involved are 41/25, 41/29, 41/30, 42/21, 50/4 and part of
41/28.  To date, Marathon has acquired approximately 2,100 kilometers of
seismic data on the blocks.  The initial exploratory well is expected to begin
drilling in the second quarter of 1995.


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         Terms of Union Texas Petroleum Limited's acquisition were not
disclosed. Union Texas Petroleum Limited said the transfer of interest was
subject to the approval of the Irish Minister for Transport, Energy and
Communications.

         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 also has petrochemical interests in the
U.S.

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Note to editors and reporters:  A map of the offshore Ireland blocks is
available by contacting Carol Cox at 713-968-2714.