The U.S. firm, Talos Energy, would like to partner with the state-run Mexican energy company Pemex next year. Both companies are attempting to work towards a joint plan that could develop a potentially gas and lucrative oil discovery that is contingent upon more drilling.
Talos Energy’s Zama project struck a major oil deposit in the shallow waters in the southern Gulf of Mexico. This major oil deposit could hold approximately 2 billion barrels of precious oil and up to 800 million barrels in recoverable assets.
This oil deposit discovery would likely extend into the Pemex Company’s adjacent block. This Mexican firm plans on performing a drill to establish its own well to confirm its share by the end of the year.
Talos Energy’s CEO, Tim Duncan, relays that the company would like to review all of the data so that they could work on the partnership as soon as possible so that their partnership could actually help both parties. Talos’ final investment conclusion would move forward more quickly after all of the data has been reviewed.
Talos, Mexico’s Sierra Oil and Gas, and Britain’s Premier Oil will also be sharing their own data with the Pemex Company. They all hope to finalize the consultations next year.
Tim Duncan and President-elect Andres Manuel Lopez Obrador had a meeting last month. President-elect Obrador has pledged to strengthen Pemex in December when he takes office.
Tim Duncan stated that Mexico’s next president emphasized the need for Talos Energy operators so that they could create more barrels as soon as possible to help reverse a 14-year-long production drop.
These companies are definitely going to have to build several platforms here in 500 feet increments of water and this will take a little bit of time. This will give the Talos-led consortium a little more time to let the market evolve on what oil does for everyone.
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