Exploration junior Pura Vida Energy has secured a better shot at making a 1.4 billion barrel oil strike in its Mazagan permit off the coast of Morocco after locking in a deal with much larger partner Freeport McMoRan Oil & Gas to almost double the depth of a planned exploration well.

The well, to be drilled in the March quarter, will now be drilled to at least 5600 metres deep rather than 3000 metres, at a cost that will more than double to about $US136 million, to be funded completely by the US partner.