Acquisition

Tullow Oil PLC
17 July 2003

 TULLOW OIL PROPOSES TO ACQUIRE ADDITIONAL EQUITY IN THE THAMES GAS FIELDS 
                               FROM ENI


Tullow Oil plc ('Tullow'), the independent international oil and gas exploration
and production company, announces that its wholly-owned subsidiary, Tullow Oil
UK Limited ('TOUK'), has entered into an agreement with Eni UK Limited ('Eni'),
a wholly-owned affiliate of Eni S.p.A., to acquire their 23.33% equity in the
Thames gas fields and the associated licence interest, P037 (Block 49/28).
Tullow has an existing 43.33% interest in Thames, purchased from BP/ARCO in
2001.

The total consideration for the transaction is £5.2 million, with an effective
date of 1st January 2002.  The net consideration payable by Tullow on completion
will be adjusted to reflect revenues and costs accruing to the interest since
the effective date. The net remaining reserves attributed to the acquired
interest at the effective date are estimated at 10 bcf of sales gas.  Gas
associated with this interest is sold on long-term contract to British Gas
Trading as part of the same common stream as for Tullow's existing interest.

Completion of the transaction is anticipated to occur in late 2003 subject to
the necessary governmental and co-venturer approvals.

John Lander, TOUK's Managing Director, stated:

'Thames is an important hub for existing gas fields and possible future
developments, such as Gawain South East.  This acquisition, along with the
recently announced equity increases in the Horne discovery and Hewett / Bacton,
the latter with a proposed assumption of operatorship, continues to demonstrate
our commitment to adding  value at every opportunity in this core area .'


For further information:

Tullow Oil plc
Tel: [phone]
Tom Hickey - Finance Director
John Lander - Managing Director - TOUK Limited
www.tullowoil.com

Binns & Co PR LtdTel: [phone]
Emma McCaffrey
Peter Binns
www.binnspr.co.uk




Notes To Editors

•  The Thames fields comprise production not only from Thames itself, but
also from the Yare, Deben, Bure and Wensum fields, with first production having
commenced in 1986. The fields produce into a complex of three bridge-linked
platforms, which also act as a production hub for other fields in the area,
notably the Orwell and Gawain fields in each of which TOUK has 50% equity. The
gas is processed on the platforms and then compressed before export to the
Bacton terminal, 88km to the west, where TOUK recently agreed to increase its
equity and plans to assume operatorship in Q4 2003.

•  The Gawain South East exploration well (TOUK 50% equity) is located
between the producing Gawain and Davy North fields and is expected to spud in
early August.

•  The net cash consideration payable to Eni on completion is estimated to
be approximately £1 million

Post completion, co-venturers in Thames will be:



Tullow Oil UK Limited                   66.67%
Superior Oil (U.K.) Ltd                  23.33%
Centrica Resources Ltd                  10.00%





•  Tullow Oil plc is a UK registered company, quoted on the London and
Irish stock exchanges, and one of the largest Independent Exploration and
Production companies in Europe. Tullow Oil is a dynamic player in the
international oil and gas industry. Its primary offices are in London (UK &
Corporate) and Dublin (International Business).

•  Tullow Oil has interests in 54 exploration and production licences spread
over three main areas - Europe, South Asia and Africa and has regional
offices in each area.






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