Re Contract

Soco International PLC
20 December 2000


               SOCO International plc ('SOCO' or 'the Company')

                 Signing of Second Vietnam Petroleum Contract


SOCO is an international oil and gas exploration and production company,
headquartered in London. In addition to its interests in Vietnam, the Company
has operations in Mongolia, Yemen, European Russia, Tunisia, Thailand and
North Korea.

In December 1997, SOCO was awarded a 30% participation in Block 16-1 offshore
Vietnam in the South China Sea. In May 1999, SOCO negotiated a Heads of
Agreement, which was followed by a Joint Operating Contract in September 1999.

SOCO announces today that its 70% owned subsidiary, SOCO Vietnam Ltd. ('SOCO
Vietnam'), has formally been awarded a Joint VenturePetroleum Contract ('JV ')
for the exploration, development and production of oil and natural gas in
Block 9-2 in the Cuu Long Basin offshore Vietnam. The working interests for
each party under the Petroleum Contract will be held 50 per cent by
Petrovietnam and 50 per cent by SOCO Vietnam certain.

Block 9-2 is situated in the central and eastern portions of the Cuu Long
Basin off the coast of Vietnam in water depths ranging between 40 metres and
60 metres and covers an area of approximately 1,370 square kilometres. It is
bordered on the west by the Bach Ho (White Tiger) field which is currently
producing approximately 225,000 barrels of oil per day (BOPD) and to the north
by the Rang Dong field, which is producing approximately 40,000 BOPD. Industry
interest in the Basin has recently been heightened with the October 2000
announcement by a major oil company of the most prolific discovery well in the
Basin to date, which tested in excess of 17,000 BOPD.

Elsewhere, SOCO continues its record making production pace with crude oil
production in November topping 10,000 BOPD net to its working interest for the
first time. For the eleven months through November, the Company's average rate
of production was approximately 8,800 BOPD.

In Tunisia, the El Fell exploration well has reached the objective depth.
Although the well encountered porous reservoir within the objective interval,
log and test data indicate the interval to be wet. The Didon well continues to
produce at a rate of approximately 1,500 BOPD net to the Company.

In Russia, work on the export pipeline is nearing completion. Two drilling
rigs have been moved to locations in the Ozernoye field where a long term
development drilling programme is expected to commence in January.

Ed Story, President and Chief Executive of SOCO, commenting on the
announcement, said:

'SOCO's 50 per cent interest in Block 9-2 when coupled with its 30 per cent
interest in Block 16-1 places the Company in one of the most attractive
exploration positions in Southeast Asia. Our acreage is on either side of the
Bach Ho field which produces approximately 225,000 BOPD and has estimated
recoverable reserves of 900 million barrels of oil and approximately 1
trillion cubic feet of gas . '


                                                              20 December 2000

Enquiries:

SOCO International plc                     Tel: [phone]
Ed Story, Chief Executive
Roger Cagle, Chief Financial Officer

College Hill                               Tel: [phone]
James Henderson
Archie Berens