ELK HILLS, Calif. -- A large discovery of oil and natural gas is being hailed as the reason Occidental Petroleum's local production has more than tripled in 2009.

Production for Oxy went up seven percent across the company's holdings, including the oil and natural gas find released in July, which was an estimated 150 to 250 million BOE (barrels of oil equivalent).

"Our Kern County discovery has made a significant contribution to this production growth," said Ray Irani, Oxy's CEO, in a news release.

Kern County gross production run rates grew from 7,700 BOE per day around the end of the first quarter this year, to 17,300 BOE per day at the end of the second quarter and to approximately 26,000 BOE per day at the end of the third quarter, officials said.

Officials believe the find could lead to new jobs.

"That's a boatload of engineers that have to be out there, and then you work on down through the pipe fitters, the roustabouts, the roughnecks, the drilling rigs, the welders, it just goes on and on," Les Clark, of the Kern Independent Oil Producers' Agency told ABC 23 when the find was announced.

It's believed the find could also reduce dependence on foreign oil and increase tax revenue to the county.