For the last 80 years, oil in Mexico has been drilled by Petroleos Mexicanos which is a state-run monopoly. However, this changed some few months ago when the Mexican government decided to invite foreign competitors to be part of the energy sector. After successful bidding, three companies were awarded the tender to drill oil in Mexico. These companies are Sierra Oil & Gas from Mexico, Talos Energy from the United States and Premier Oil from the United Kingdom. The Mexican government said that the drilling process began on 21st May. The government also revealed that the process is expected to last for 90 days and what Talos Energy knows.
According to the Mexican government, the oil well is referred to as Zama-1 well which is located in Sureste Basin. Sureste Basin is located in Tabasco State. The three companies reported that the project would cost them approximately $16 million. They also announced that they would drill between 100 million and 500 million barrels of oil. According to Elaine Reynolds who works with Edison Investment Research Ltd in London, this partnership will act as the stepping stone for future projects. The standards set in this project will be used in future projects. According to a statement released by the three companies, Premier Oil owns 25 percent of the deal while Sierra Oil & Gas owns 40 percent. The remaining 35 percent is owned by Talos Energy and more information click here.
Talos Energy is an American energy company that operates from Houston, Texas. The company was established in the year 2012. At the moment, Talos Energy specializes in the exploration and drilling of hydrocarbons and Talos Energy’s lacrosse camp.
The company was established through the partnership of Riverstone Holdings and Apollo Global Management. Initially, the company was established with the aim of acquiring assets in the Gulf of Mexico and Gulf Coast region. The company uses state of the art technology in these processes and contact their.