As of September 25, Talos Energy and Pemex have entered into a preliminary agreement to unify efforts in an area where Talos discovered oil and gas were recently discovered. It is believed through the data that they have collected that the deposit in question most likely expands to Pemex operating regions in the shallows of the Gulf of Mexico. The deposit is thought to be quite expansive and Pemex expects it to be very beneficial to their production capabilities in the region.
While it isn’t for certain that the Talos Energy deposit extends to the neighboring area, it’s believed to be most likely true. This agreement between the 2 companies arranges for them to be able to jointly operate fields if the suspicions do turn out to be true. In addition, it establishes a process that will allow Talos Energy and Pemex to calculate how much each company will be participating in the development of the area.
A working group is being created by Pemex and Talos Energy with the focus of maximizing their computing and operating resources. They will also be responsible for assigning a protocol in order to reduce the risks during seismic activity and optimize production capabilities. Each of the companies will have representatives in the group for legal and technical reasons.
The agreement with Talos Energy will be the first preliminary unification in the history of Mexico’s oil industry. The companies are celebrating the agreement and believe that it is in the best interests of those that are involved. Drilling will begin in the area by the end of November. They are predicting that multiple platforms will be constructed in the areas in order to maximize the output. They expect that in the near future they will be able to produce 150,000 barrels from the site a day.
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