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.
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