Drilling Report

BP AMOCO PLC
15 July 1999

BP AMOCO ANNOUNCES FOUR MAJOR DEEPWATER FINDS IN GULF OF MEXICO

BP Amoco today announced four significant oil discoveries in the deepwater
Gulf of Mexico, including the largest made to date by any company.

These major exploration successes add to an already significant reserves base
in the deepwater Gulf and demonstrate BP Amoco's leading position in this
technically challenging area.

Largest of the discoveries is the 'Crazy Horse' prospect, located in 6,000
feet water depth in the Boarshead basin, 125  miles south-east of New Orleans,
Louisiana. With estimated recoverable oil of at least one billion barrels of
oil equivalent (boe), it is the biggest discovery ever in the Gulf deepwater.
BP Amoco is operator and holds a 75 percent interest. Partner Mobil holds 25
percent equity.

The other three discoveries are located in water depths varying from 4,000
feet to 6,500 feet in the Southern Green Canyon area of the Gulf, 150 miles
south of New Orleans. Each of these prospects is also operated by BP Amoco.
The discoveries and the partners are: 'Atlantis' (BP Amoco 56 percent, BHP 44
percent); 'Mad Dog' (BP Amoco 63.56 percent, BHP 11.44 percent, UNOCAL 25
percent); and 'Holstein' (BP Amoco 50 percent, Shell 50 percent).

For BP Amoco these three discoveries add around 600 million boe net additional
reserves in the Southern Green Canyon Area.

Steve Peacock, VP Exploration for BP Amoco, Gulf of  Mexico, said:  'These
four new discoveries are very exciting and will establish two additional BP
Amoco production centres in the Gulf.  Added to our existing production, new
developments and previously announced discoveries, BP Amoco's total net
reserve base in the deepwater Gulf will be some 2.5 billion boe - around 30
percent of all deepwater Gulf reserves discovered to date. And additionally we
have significant shares of similar prospects nearby.

'The successes achieved are due in large part to our focused exploration
strategy, and consistent and steady presence over a number of years in the
deepwater Gulf. While there are many technological challenges working in this
area, because of our successful track record, we are confident of a very
promising future'.


BP Amoco is the largest acreage holder in the deepwater Gulf with more than
750 gross blocks in water depths greater than 1,500 feet. The company
currently produces 150,000 boe a day from six fields, or around one-fifth of
the industry's total production in the deepwater Gulf. The company's two main
current deepwater production areas are in the Central Gulf - one concentrated
around the Shell-operated Ram Powell and BP Amoco's Pompano  fields, and the
other around the Shell-operated Mars and Ursa fields.  

In addition, BP Amoco has a further four fields under development - Marlin (
BP Amoco-operated), Europa ( Shell-operated), Diana and Hoover
(Exxon-operated). These will take the company's net Gulf of Mexico deepwater
production to around 250,000 boe a day by the end of the year 2000. BP Amoco's
total Gulf of Mexico reserves, including the Shelf, is three billion boe.


Notes to editors:

1. BP Amoco already operates Pompano (a fixed platform in 1,500 feet) and
Troika (a subsea development in 2,700 feet), and will operate the Marlin
Tension Leg Platform (TLP) in 3,200 feet, due to start up later this year.  In
addition, BP Amoco are non-operating partners in three producing TLPs (Mars,
Ursa, Ram Powell), and in a spar under development for Diana and Hoover.  

2. The Troika subsea well holds the record for production from a single well -
over 40,000 boe a day.  This breadth and variety of experience makes BP Amoco
well placed for taking the next step into 6,000 feet water depth.

3. BP Amoco is an international company involved in the exploration and
production of crude oil and natural gas;  refining, marketing, supply and
transportation of hydrocarbons; and manufacturing and marketing of
petrochemicals and solar power generation.