Last June, the block 7 joint venture agreed on the main elements of a full-field development to maximize overall recovery from the Zama field, where reserves are thought to be in the range 670-970 MMboe.
They propose two processing, drilling and accommodation platforms connected to an FPSO, with oil offtake by tankers.
Premier stressed that approval for the plan would be subject to an agreement on unitization of the field between the block 7 partners and Pemex, operator of an adjacent block containing an extension of Zama.
Discussions are progressing in accordance with the Mexican regulatory process. But if no accord is forthcoming, an independent expert will be appointed during 2Q to determine the initial tract participation of the field, in compliance with the government-approved pre-unitization agreement process.
Premier remains in talks with interested parties on selling its interest in block 7, but plans to retain its other offshore Mexico license interests.
Last July, a 3D seismic survey was acquired over block 30 (Premier 30%). The data is presently undergoing processing to delineate the full extent of the Wahoo and Cabrilla prospects, and to mature others elsewhere on the block.
Exploratory drilling should follow in 2021.