First time in the history of Mexico, a private venture between London based Premier Oil Plc, Mexico’s Sierra Oil & Gas and Talos Energy LLC have discovered oil reserves in Mexican waters. Talos Energy LLC, which is a major partner of the team, holds 35% of stake in interest followed by Sierra and Premier which holds 40% and 25% respectively and more information click here.
In order to impel competition in the energy sector and to break the monopoly of state-run company Petroleos Mexicanos, this is first moving in 80 years to avoid energy crunch. Talos Energy, a Houston based company, together with their partners, have announced the discovery of oil reserves. The drilling may start in 90 days, and it portrays a significant achievement for the community. The decision to give permission to private sector companies to explore the energy sector was deliberate effort to improve the poorly performing public domain companies.
Tim Duncan, who is President and Chief Executive Officer of the corporation, stated himself that this venture would open up new reforms, create capital, jobs, and revenues for the government of the Mexico. The Zama-1 which is 546 feet deep and almost 60 kilometer from the Port of Dos Bocas, is considered to be a major accomplishment, as both US and Mexican people have given their best efforts to make the community’s goals come true and learn more about Talos Energy.
According to President Duncan, the discovery of oil reserves in Mexican waters will create new opportunities and will bring a bright future for the country. It was a successful team effort by technical and operations groups of Sierra and Premier that resulted in a landmark in offshore oil drilling and its Facebook.
The company has also deployed a ship to protect its reserves before the deep digging begins, but they do not have immediate plans to test the wells. They are also always looking for new locations and exploring new opportunities for plans, to keep improving the future of the community and the industry and Talos’s lacrosse camp.
National Hydrocarbons Commission, which is a governing body and regulator for Block 2 and Block 7, presented two production sharing contracts for its partners Sierra and Premier. These two blocks, which have proven hydrocarbon province, hold the approximately capacity of 162,904 gross, acres prospect fields and http://www.talosenergyllc.com/about-us/.