Premier Oil, together with its joint venture partners Talos Energy and Sierra Oil & Gas, has been awarded Blocks 2 and 7 in Gulf of Mexico.
The blocks were awarded in Mexico’s round 1 , held in Mexico City on July 15.
According to Premier Oil, the Blocks contain numerous leads in established and emerging plays, located in the shallow water Sureste Basin, a proven and prolific hydrocarbon province in the Gulf of Mexico.
Blocks 2 and 7 contain Tertiary clastic plays, typical of the Salinas sub-basin. The company says that the forward plan is to acquire, evaluate and reprocess 3D seismic data with a view to firming up drilling locations towards the end of 2016.
Tony Durrant , Chief Executive, said: “We are very pleased with the outcome of this round which provides Premier with a low cost entry point to emerging plays in a proven oil and gas province.”
The JV comprises operator Talos Energy with 45 per cent, Sierra Oil & Gas with 45 per cent, and Premier with 10 per cent.
Premier can elect to participate in the drilling programme at an equity interest of up to 25 per cent.
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