Drilling Report - Production Rise in Pierce Field

Enterprise Oil PLC
8 February 2000



Enterprise Oil announces significant production rise on its Pierce field

Enterprise Oil plc today announced the start of work to de-bottleneck the
production of its operated Pierce field in the UK North Sea.
 
Work commenced on Sunday with the shutting in of production. The shut-down is
planned to last for 10 days so that modifications can be made to allow an
increase in output of about 20 per cent. Daily peak production is anticipated
to rise from 54,000 to 65,000 bopd following de-bottlenecking.

Pierce commenced production in February 1999 using a floating, production
storage and offloading vessel (FPSO), the Berge Hugin, and produced its 10
millionth barrel in early December 1999. It achieved design rates of 50,000
bopd during 1999.

Pierre Jungels, Chief Executive, commented: 'The increased production on
Pierce is further good news from a field which has already seen a significant
reserves upgrade through development drilling. Pierce is our second operated
field in the UK and this project shows the quality of this key asset in which
we have a 74 per cent interest. It further highlights the value of our spread
of assets in core areas.'

Partners in the field are: 
                                      % Interest
Enterprise Oil plc (Operator)         73.99
Ranger Oil (U.K.) Limited             15.6
MOC Exploration (U.K.) Limited        3.7544
Agip (U.K.) Limited                   3.7284
Petrobras North Sea Limited           2.925

 
For further information contact: 

Ian Craig, Technical Director                                   0207 925 4464
Patrick d'Ancona, Head of Public Relations                      0207 925 4160
Peter Reilly, Head of Investor Relations                        0207 925 4476

 
Notes to editors:

- Pierce is located in UK blocks 23/22a and 23/27 approximately 280 km east of
Aberdeen, and was discovered by Ranger Oil in 1975. 

- Enterprise became operator of the field as the result of an asset swap with
BP whereby Enterprise's interest in the field was raised to 73.99 per cent.
The development received DTI sanction in August 1997. 

- The FPSO was converted by Aker McNulty at Tyne Tees Dockyard in Newcastle
for the Pierce Production Company Ltd (PPC) who act as duty holder for the
vessel. Enterprise, as operator, has leased the vessel from PPC for an initial
five-year contract period. PPC is a company established by Navion, APS and
Bergesen. 

- At development sanction the field was estimated to contain 84 million
barrels of oil and 202 billion standard cubic feet of gas

- Well results from the first development well on the western flank of North
Pierce indicate almost double the vertical height of the oil column from 800
to 1500 ft and have added approximately 26 million barrels of oil to the
field's reserves.

- During the shutdown the capacity of the relief header pipework and valves on
the 2nd stage separator will be increased. In addition the suction pipework to
the cargo transfer pumps will be increased.