Success in Licensing Round

Enterprise Oil PLC 21 June 2001 For immediate release: Thursday, 21 June, 2001 Enterprise announces success in Brazilian Licensing Round Enterprise Oil today announced that it has successfully secured its first operated exploration block and three non-operated blocks offshore Brazil in the country's third oil and gas licensing round. The BM-ES-10 block in the Espirito Santo Basin will be owned 100 per cent and operated by Enterprise. The three non-operated licences include a 25 per cent interest in BM-S-17 and a 25 per cent stake in BM-S-19, both in the Santos Basin, and 22.5 per cent of BM-C-14, a block immediately south of BC-2, where Enterprise has a 15 per cent interest. The blocks, which all lie in deep water, enhance Enterprise's existing acreage in Brazil and provide long-term exploration exposure to the Campos, Santos and Espirito Santo Basins. Pierre Jungels, Chief Executive commented:' Success in this licensing round confirms Enterprise's position as a key player in the Brazilian oil and gas industry. We are delighted at the award of these licenses which will add to the strength of our Brazilian portfolio. We have established a sound business in Brazil with operatorship of the Bijupira and Salema development and exploration success in the Campos Basin. These awards are a further step towards our aim of building a core area in Brazil.' Co-venturers in the licenses are: BM-ES-10 Enterprise Oil plc (operator) 100 per cent BM-S-17 Petroleo Brasileiro S.A (operator) 50 per cent Enterprise Oil plc 25 per cent Den Norske Stats Oileselskap a.s 25 per cent BM-S-19 Repsol YPF Brasil S.A (operator) 50 per cent Enterprise Oil plc 25 per cent Den Norske Stats Oileselskap a.s 25 per cent BM-C-14 Total Fina Elf S.A (operator) 30 per cent Petroleo Brasileiro S.A 25 per cent Enterprise Oil plc 22.5 per cent Shell 22.5 per cent Ends. For further information please contact: Patrick d'Ancona, Head of Public Relations 020 7925 4160 Peter Reilly, Head of Investor Relations 020 7925 4476 Sucharita Sethi, Senior External Affairs Adviser 020 7925 4160 Notes to Editors Enterprise has been active in Brazil since 1998 and has interests in the Campos and Ceara Basins. The group is also operator of the Bijupira and Salema development in the Campos Basin. Santos Basin The BM-S-17 and BM-S-19 blocks have located in the Sao Paulo State and have an area of 1,611sq km and 2,075 sq km respectively. Espirito Santo Basin The BM-ES-10 is located in the Espirito Santo State and has an area of 2,158 sq km. Campos Basin The BM-C-14 is located in Rio de Janeiro State and has an area of 1,882 sq km.
UK 100

Latest directors dealings