Premier Oil Discovers Oil off Mexico Coast
Premier Oil Plc said it had discovered oil off the coast of Mexico at its Zama-1 exploration well in Block 7.
Premier, which holds a 25 percent interest in the block, said estimates for the Zama-1 well were in excess of 1 billion barrels, which could extend into a neighbouring block.
The project is jointly owned by Talos Energy, which acts as operator and has a 35 percent stake, and Sierra Oil and Gas which holds the remaining 40 percent.
Reporting by Arathy S Nair
