Premier Oil has made a key oil discovery in the Zama-1 exploration well in Block 7, offshore Mexico.
BP continues to make progress in shifting its exploration portfolio toward natural gas and advantaged oil.
Ecopetrol S.A has been awarded shared production contracts for hydrocarbon exploration and extraction, along with Petronas and Pemex.
Premier has announced that the Zama-1 exploration well in Block 7 (Premier equity 25%) in the shallow water Sureste Basin, offshore Mexico, was spudded at 0630 on 21 May 2017.
Senior figures from Mexico’s national oil company, Pemex, have been discovering the secrets of the UK subsea sector’s success and how it has revolutionised the way in which hydrocarbons have been extracted from beneath the seabed during a fact-finding visit to Aberdeen.
Hydrocarbon production from the ‘Golden Triangle’ – incorporating the deepwater (>500 m water depth) plays of Brazil, the US Gulf of Mexico and West Africa – will peak in 2019 due to the lack of projects sanctioned in recent years.