Premier Oil has spudded its Zama-1 exploration well offshore Mexico – the first exploration well to be drilled on acreage awarded in the country’s inaugural international licencing round in 2015.
The operator hold a 25% interest in the prospect, which is in shallow water in the Sureste Basin.
The well’s principal target is the low risk Zama prospect with supportive direct hydrocarbon indicators in the Tertiary clastic reservoirs.
The Zama structure is estimated to have a P90-P10 gross unrisked resource range of 100-500 mmbbls.
The well is expected to take up to 90 days to drill both the Zama prospect and the secondary target, Zama Deep.
The total cost to Premier is $16 million.
The partners in the block are Talos Energy, the operator with 35% interest, Sierra Oil and Gas with 40% and Premier 25%.