Holding in Company

Enterprise Oil PLC
13 December 2000



Enterprise increases investment in KMOC

Enterprise Oil plc today announced that it has increased its interest in
Khanty Mansiysk Oil Corporation (KMOC) to an 18.6 per cent fully diluted
shareholding.

The company exercised its pre-emptive right to invest $21.4 million in a $40
million private placement that closed in November.  It subsequently acquired
an additional package of KMOC securities for $3 million from an existing
investor.

This is further to the group's initial investments made in September 1999 and 
March 2000 and brings the total amount invested by Enterprise in KMOC to
approximately $53 million. Enterprise also has a technical services agreement
with KMOC which extends until June 2001.

Pierre Jungels, Chief Executive, commented, ' I am pleased we have taken this
opportunity to make a further investment in KMOC.  Our two companies enjoy a
strong relationship and the timing of this placement coincided with an
improving investment climate in Russia. This is consistent with our strategy
of a measured exposure to Russia and, in particular, the prolific West
Siberian Basin.' 


For further information please contact:

Patrick d'Ancona, Head of Public Relations, Enterprise Oil plc   020 7925 4160
Peter Reilly, Head of Investor Relations, Enterprise Oil plc     020 7925 4476
Sucharita Sethi, Public Relations Officer, Enterprise Oil plc    020 7925 4160

Khanty Mansiysk Oil Corporation                                   www.kmoc.com


Notes to Editors  

KMOC is a US-domiciled oil company that develops, produces and markets crude
oil from the Khanty Mansiysk region of western Siberia in the Russian
federation. The company holds production licences to ten oil fields. Based on
a reserve report prepared by Ryder Scott to SEC standards, the company's
estimated  proved reserves as of 30th June 2000, were approximately 420
million barrels.  In the third quarter 2000, net production averaged over
11,000 barrels per day, up from an average of approximately 6,500 barrels
during 1999. 

The proceeds for the private placement will be used to finance the ongoing
development of KMOC's proved and probable reserves. 

UBS Warburg acted as sole underwriter of the private placement.