Development Approval

Enterprise Oil PLC
26 February 2001

For immediate release: Monday, 26 February 2001

       Enterprise announces the sanction of Corrib gas field in Ireland

Enterprise Oil has announced today that its subsidiary Enterprise Energy
Ireland and its co-venturers Statoil Exploration Ireland and Marathon
Petroleum Hibernia have approved the development of the Corrib gas field 70
kilometres off the coast of County Mayo in Ireland, subject to regulatory and
planning approval.

Corrib was discovered by Enterprise in 1996 and lies in over 1,100 feet of
water, and four wells have been drilled on the field to date. The development
concept comprises seven subsea wells which will be tied back to a central
gathering manifold connected to an offshore pipeline. This will carry gas to a
landfall point, and then a short distance onshore to a processing terminal
also in Mayo.

Commenting on the decision, Brian O'Cathain, Managing Director Enterprise
Energy Ireland, said: 'We are delighted to announce our investment in Corrib
which will help provide Ireland with a secure supply of gas for many years. We
are also very hopeful that we will be able to add to the success of Corrib
with future Irish gas discoveries.'

The Corrib co-venturers are:
Enterprise Energy Ireland (operator)                          45 per cent
Statoil Exploration (Ireland) Ltd                             36.5 per cent
Marathon International Petroleum Hibernia Ltd                 18.5 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, Public Relations Officer                     020 7925 4160



Notes to Editors

Corrib:

The Corrib gas field is the first commercial find offshore Ireland since
Kinsale Head in 1973. The gas is located 13,000 feet below the sea bed.
Remaining development costs are estimated at around £400 million.

The Irish Gas Market:

The Irish gas market is relatively small. On average the UK would consume the
entire gas output from the Ballycotton gas field off Cork every three days.
However, Ireland's demand for gas is expanding rapidly with annual average
demand of 350 million standard cubic feet per day (mmscfd). This is forecast
to rise to 480 mmscfd in 2005.

Ireland's sole source of indigenous gas from the Kinsale Head field is in
decline and imports are growing in importance. 50 per cent of Ireland's needs
were met by imports in 1998. Gas demand is driven by the need to increase
electricity-generating capacity and to fuel existing capacity in order to
reduce carbon dioxide emissions. Natural gas is increasingly the fuel of
choice in Ireland and new sources of indigenous gas would contribute
significantly to the country's security of supply.