The sale of a stake in Mexico’s giant Zama oil field promised to help Premier Oil pay down debts and strengthen its balance sheet, but an ownership conflict is complicating that process.
Premier Oil said today that the resource estimate for the Zama field offshore Mexico had been raised "significantly" following the drilling of appraisal wells.
Talos Energy and partner Premier Oil have announced a successful appraisal well at the huge Zama discovery offshore Mexico.
Talos Energy is targeting first oil from the 1 billion barrel Zama discovery off Mexico in 2022.
A new report from analysts Westwood Global Energy Group has highlighted 10 potentially commercial oil discoveries made in 2017.
The discovery of a new 1billion barrel field in the Gulf of Mexico caused a ripple in the oil sector yesterday.
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.