Talos Energy Partnering with a Consortium of Oil and Gas Companies to Explore the Mexican Gulf

Talos energy together with a syndicate of companies that have interests in the oil and gas are looking forward to partnering with Pemex which is a Mexican state-owned energy firm. The joint partnership is geared towards developing a potentially lucrative oil and gas discovery that will be accompanied with more drilling.
Talos previous projects in the southern Gulf of Mexico ware a success. The Zama project struck a significant oil deposit that is estimated to hold close to 2 billion barrels of oil. Besides, the Zama well holds close to 1 billion barrels of oil in recoverable reserves.
The discovery will be of great significance to Pemex which is planning to drill its well by the end of the year including confirming its share.
During an interview Talos Energy CEO Mr. Tim Duncan said that the firm is looking forward to analyzing the data for the venture. The data results will then inform the company how quickly it can form the partnership as well as making its final investment decision. Tim added that the groups of companies that are involved in the joint venture include Talos Energy, Britain based premier Oil, and the Mexican Siera Oil and Gas. All the three firms will share its data with Pemex and are all hoping that by the end of the following year the project negotiations will have been finalized.
Duncan in a bid to strengthen business ties with the Mexican government visited the President-elect Andres Manuel Lopez Obrador who promised to help strengthen Pemex once he assumes office in December. The president-elect went ahead to emphasize the country’s need of operators like Talos who will assist in the production of more barrels of oil.
Mexico’s oil regulator in September of this year approved the appraisal plan for the Zama project that is estimated to cost Talos a whopping 325 million dollars worth of investment in drilling and conducting research.
About Talos Energy
Talos Energy is a private for-profit oil and gas Exploration Company that focuses its operations in the Mexican Gulf and the Gulf Coast. The Houston Texas-based company was founded way back in 2012.

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