Premier Oil, together with its joint venture partners Talos Energy (Operator) and Sierra Oil & Gas, recently announced that the Zama-1 exploration well in Block 7, offshore Mexico, has made a world class oil discovery. The Zama-1 well is the first offshore exploration well drilled by the private sector in Mexico’s history.
Preliminary analysis indicates that the initial gross original oil estimates for the Zama-1 well are in excess of 1 billion barrels.