Premier updates offshore Mexico, Brazil exploration schedule

Offshore staff

LONDONPremier Oil says existing 3D seismic over its shallow-water blocks offshore Mexico will be reprocessed this year, with new data acquired next year if necessary.

The company entered the sector last summer following the award of a 10% interest in blocks 2 and 7 in the Sureste basin, in partnership with operator Talos Energy (45%) and Sierra Oil and Gas (45%).

The partners are targeting light oil in Tertiary clastic reservoirs and plan to start exploratory drilling in 2017/18. Premier is carried on each block up to the point of the first well when it has the option to lift its stake to 25% prior to drilling.

Last April, the company farmed into 30% of the CEM-661 concession in Brazil’s offshore Ceará basin. This, in addition to its 50% share of CE-M-717 and CE-M-665, makes it the largest net-acreage holder in the basin, where the company eyes an emerging Cretaceous play fairway.

During 2015 multi-client 3D seismic was acquired across all the blocks. Results from this year’s interpretation will serve to identify drilling targets for the end-2017/2018 drilling campaign.

Interpretation continues of new 3D data also in the offshore Foz do Amazonas basin (Premier 35%), with a view to mature drilling targets in 2016.

02/26/2016

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