Over 80 years ago, the Mexican government privatized the oil industry of the country. In 2017 the country is undergoing a reform of the Mexican oil industry, and it is letting in foreign businesses for the first time in decades.
Three companies will have a joined venture and work on a project together. They will be drilling a well called Zama 1. Two of the business are foreign, and one is native. Premier Oil PLC is a business based in Britain, and it has a 25% stake in the project. Talos Energy LLC is from Houston, Texas and its stake is 35%. The company of Talos Energy is also the operator of the well. The native business is Sierra Oil & Gas, and it holds the most stake in the project – 40%.
Zama 1 is located near the state of Tabasco in the Sureste basin. Experts estimated that the well of Zama 1 would produce up to 500 million of barrels and no less than 100 million of barrels of crude oil. The estimate was announced by Premier Oil PLC. The same business will invest 16 million dollars into the drilling. The project should be completed within 90 days and learn more about Talosx Energy.
The three collaborating businesses won the rights to take part in the project back in 2015 when the Brazilian government took the first step to reform the country’s oil industry. The well will be the first non-Pemex one in more than 80 years. That is a large step for the oil industry of Mexico. The change a part of a plan by the government to expand the energy sector as the country and read full article.
The operator of the well, Talos Energy LLC has been around since 2012. The business specializes in exploring and exploiting new grounds. Talos Energy LLC mainly works on the Gulf Coast and near Mexico. The founder of Talos Energy LLC is Mr. Timothy S. Duncan. He is operating as the President and Chief Executive Officer of business and Its Facebook.
The business of Talos Energy LLC has been highly active since it was founded It has been presenting ideas at conferences, and the joined venture with Sierra and Premier Oil will definitely give new ground to the development of the young company and Talos Energy’s lacrosse camp.