8-K

                     SECURITIES AND EXCHANGE COMMISSION

                           WASHINGTON, D.C. 20549

                        ___________________________


                                  FORM 8-K


                               CURRENT REPORT
                     PURSUANT TO SECTION 13 OR 15(d) OF
                    THE SECURITIES EXCHANGE ACT OF 1934

                        ___________________________


    Date of Report (Date of earliest event reported): February 21, 1996

                    UNION TEXAS PETROLEUM HOLDINGS, INC.
           (Exact name of Registrant as specified in its charter)

  
   Delaware                        1-9019                  76-0040040
   (State or other               (Commission             (I.R.S. Employer
     jurisdiction                File Number)           Identification No.)
     of incorporation)



               1330 Post Oak Boulevard, Houston, Texas 77056
            (Address of principal executive offices) (Zip Code)

     Registrant's telephone number, including area code (713) 623-6544





Item 5.  OTHER EVENTS.

     Press Release.  The  information set forth in the press release of the
registrant dated February 2, 1996, which is filed as an exhibit hereto,  is
incorporated herein by reference.

Item 7.       FINANCIAL STATEMENTS AND EXHIBITS.

         (c)  Exhibits:


Exhibit
Number                      Description

99.1                        Press release dated February 2, 1996






                                 SIGNATURE

     Pursuant to the  requirements of the Securities  Exchange Act of 1934,
the  Registrant  has duly  caused this report to be signed on its behalf by
the undersigned thereunto duly authorized.

                                         UNION TEXAS PETROLEUM
                                         HOLDINGS, INC.



                                         By:      /s/ Newton W. Wilson, III    
                                               Newton W. Wilson, III
                                               General Counsel,
                                               Vice President-Administration
                                                 and Secretary

Date: February 21, 1996






                             INDEX TO EXHIBITS

Exhibit
Number               Description


99.1                 Press release dated February 2, 1996

EX-99.1

                                                              Exhibit 99.1

                           UNION TEXAS PETROLEUM
                                (LETTERHEAD)


NEWS RELEASE

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

                      UNION TEXAS PETROLEUM ANNOUNCES
                        TWO DISCOVERIES IN PAKISTAN

     Houston,  February 2, 1996 -- Union  Texas  Petroleum  Holdings,  Inc.
today reported two discoveries in the Badin area of  southeastern  Pakistan
by its  wholly-owned  subsidiary,  Union Texas  Pakistan,  Inc. Union Texas
Pakistan  serves  as  operator  of a joint  venture  group  and has a 25.5%
working interest. The Oil and Gas Development  Corporation (OGDC), which is
the  Pakistan  government  oil  company,  has a 49%  working  interest  and
Occidental Petroleum (Pakistan), Inc. holds the remaining 25.5%.

     The Zaur Deep-1  exploration well flowed at a daily rate of 14 million
cubic feet of natural gas and 260  barrels of  condensate  on a  36/64-inch
choke with 2,340  pounds-per-square-inch (psi) flowing tubing pressure from
the middle sands of the Lower Goru formation  between 8,065 and 8,131 feet.
Union  Texas  Pakistan  said  production  from the Zaur well is expected to
commence in 1997, following completion of a new gas pipeline to connect the
Zaur field to the venture's gas production facility at its Bukhari field.

     The Buzdar South Deep-1  exploration well was tested at daily rates of
11.2  million  cubic  feet  of gas  and  167  barrels  of  condensate  on a
32/64-inch  choke  with 2,010 psi  between  6,174 and 6,215  feet,  and 8.1
million  cubic feet of gas and 124 barrels of  condensate  on a  32/64-inch
choke with 1,526 psi  between  5,981 and 5,987  feet.  The Buzdar well also
flowed at a combined  daily rate of 7.2  million  cubic feet of gas and 620
barrels of oil and condensate on a 32/64-inch  choke with 1,605 psi between
5,942 and 5,987 feet. All perforations  were located in the middle sands of
the Lower Goru  formation.  Union Texas Pakistan said the Buzdar well would
initially be completed as an oil well with production  expected to begin in
1996.

                                   -more-



     Both the Zaur Deep and  Buzdar  South  Deep  wells are  located on the
venture's Badin- II concession area in the Sindh province. During 1995, the
Union Texas Pakistan  group drilled a total of 12 exploration  wells on its
Badin concession  areas, of which five were successful,  including the Zaur
and Buzdar wells.  Since 1977,  the venture has made 43  discoveries in the
Badin areas,  including  the Zaur Deep and Buzdar  South Deep wells.  Union
Texas Pakistan said the venture is currently  finalizing its plans for 1996
and expects to drill up to seven exploration wells in the Badin areas in
the new year.

     In 1995,  the  venture  produced an average of  approximately  21, 000
barrels of oil and 174  million  cubic feet of gas  daily,  accounting  for
about 38% of Pakistan's  total domestic oil production and about 10% of the
country's gas output. The Union Texas venture's 1995 production rates set a
record for the group, its sixth production record since 1989.

     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.  The corporation  celebrates its 100th anniversary
in January 1996.  Union Texas  celebrates its 100th  anniversary in January
1996. 
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