Premier Oil plans billion-barrel Mexico appraisal

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Premier Oil has revealed that appraisal drilling of Mexico’s first private offshore discovery, Zama-1, is expected to commence in late 2018 or early 2019.

UK-based Premier said in an update this week that is was working with joint venture partners Talos Energy and Sierra Oil & Gas to progress the appraisal and development of the “world class oil discovery” at the Zama-1 well in Block 8 Sureste Basin, offshore Mexico.

The Zama discovery extends into a neighbouring block, operated by Mexican oil company PEMEX, and Premier Oil said discussions have commenced and were “progressing well to agree a pre-unitisation agreement with PEMEX” to facilitate an appraisal program in late 2018 or 2019.

Zama-1, operated by Talos, was discovered in July representing a historic milestone in offshore exploration in Mexico as the first well drilled by the private sector in the country after energy reform had made this possible.

The Zama-1 well is located 60km offshore Dos Bocas and was spudded on May 21 by the Ensco 8503 drilling rig.

The entire Zama Field ranks as one of the biggest shallow water fields discovered in the past 20-years and is estimated to hold more than 1.5 billion barrels of oil equivalent.

Talos holds a 35% stake in the field with Premier Oil and Sierra Oil & Gas having a 25% and 40% participation interest respectively.

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