Project Profile

Location: Sureste Basin, Gulf of Mexico
Reserves: 100-500 million barrels of oil (P90-P10) - Block 7
Start-up Year:

Premier Oil together with its joint venture partners Talos Energy (operator) and Sierra Oil & Gas, has been awarded Blocks 2 and 7 in Mexico’s Round 1 held in Mexico City on 15 July.  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 forward plan is to acquire, evaluate and reprocess 3-D seismic data with a view to firming up drilling locations towards the end of 2016.  

Premier can elect to participate in the drilling programme at an equity interest of up to 25 per cent.

Operators:

Talos Energy: Operator with 35% interest

Sierra Oil & Gas: 40% interest

Premier Oil: 25% interest