UK-based Premier Oil has been awarded stakes in three blocks in Mexico’s latest licensing round.
Premier has taken 30% of Block 30 in the Sureste Basin, south west of the “world-class” Zama discovery.
Project partners plan to acquire further 3D seismic in 2019, then firm up drilling locations for 2020.
Premier has also taken 100% of Blocks 11 and 13 in the Burgon Basin
Chief executive Tony Durrant said: ‘The outcome of this highly competitive licensing round is a fantastic success for Premier and its partners.
“We are delighted to have been awarded Block 30, the most contested block in the Round.
“This award increases our footprint in the prolific, shallow water part of the Sureste Basin.
“The award of Blocks 11 and 13 provides us with a low cost entry into the Burgos basin, where we will look to repeat the first mover advantage we enjoyed in the Sureste Basin with the Zama discovery.
“The awards significantly enhance our existing acreage position in Mexico and have the potential to deliver significant organic growth for our business in the longer term.”