Talos Energy is targeting first oil from the 1 billion barrel Zama discovery off Mexico in 2022.
The Houston-headquartered company plans to start appraising Zama in the fourth quarter of 2018.
A final investment decision would follow in the fourth quarter of 2019, or the start of 2020.
First oil is expected in 2022, with production increasing through 2024, as additional facilities are installed in the field.
Talos Energy operates the licence containing Zama, with a 35% working interest, while UK-headquartered oil producer Premier Oil holds a 25% stake.
Sierra Oil and Gas owns 40% of the block.