Offshore Mexico group lines up block 7 well

Offshore staff

LONDON – Premier and its partners have completed their technical evaluation of block 7 offshore Mexico, including the amplitude-supported Zama prospect.

The company expects to soon receive an option notice to increase its equity interest in the license to 25%, with the first well set to be drilled in mid-2017. 

Offshore Brazil, Premier has secured an extension of the first-phase exploration period for two operated licenses to July 10, 2019. The extension will help the company draw up cost synergies with other operators in the Equatorial Margin who plan to begin drilling during the second half of 2018.

In the offshore North Falkland basin, front-end engineering and design continues on the Sea Lion project with technical definition of the project well advanced, and the current breakeven price estimate at $45/bbl.

Premier anticipates further reductions through market engagement.

Offshore Indonesia, the company is targeting a final investment decision in 1Q 2017 on the Bison, Iguana, and Gajah Puteri gas field developments, to support long-term gas contracts to Singapore and Indonesia.

Finally, production from the Premier-operated Chim Sáo field off Vietnam has improved following an intervention campaign that included reservoir stimulation of three oil wells and a water injector.

The company says it has identified upside at Chim Sáo and plans further intervention work and two infill wells during 2017 to help sustain production levels.


Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...