Enterprise Oil Awards Rig Contract

Enterprise Oil announced that the contract for the Bijupira-Salema development drilling program has been awarded to Diamond Offshore, subject to project sanction and ANP approval.

The drilling program, currently estimated to last two years, will utilize the semisubmersible rig, Ocean Yorktown. Sixteen wells are planned for the contract period. Project approval is expected in early 2001 and drilling operations are due to commence in mid-year 2001. The rig is currently working on a three-year contract to co-venturer, Petrobras.

The two fields are located adjacent to each other in the Campos Basin area, approximately 55 miles from Cabo de Sao Tome, in water depths ranging from 1,575 to 2,890 feet.


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