Several different oil drilling companies are joining together to begin drilling in an offshore oil well off the coast of Mexico. It’s been almost 80 years since a private company has drilled in the waters of Mexico. It’s the latest step in the attempt to drive the country’s foreign companies back into the market of energy. They began drilling the well on May 21st, and are pleased to announce that it’s the first offshore exploration well to be started by anyone else other than Petroleos Mexicanos since 1938.
It’s currently estimated that the Zama-1 well which is located in the Sureste Basin off the coast of Tabasco, holds approximately 100 million to 500 million barrels of crude. The drilling process is expected to take up to about 90 days to finish and it’s expected to cost Premier around $16 million. The first round of bidding, which took place in 2015, granted the three companies rights to the prospective project and Talos Energy on Facebook.
Elaine Reynolds serves as an analyst at the London-based Edison Investment Research Ltd., and she mentions that the project will be closely watched. It’s the first non-Pemex well that will be drilled as a result of the Mexican waters opening up in hopes to build the country’s energy reform structure. Their current studies show that the structure of the basin will reflect a highly positive chance for success. Zama has become one of the most interesting projects, solely because of the complications and intense differences concerning the Mexican market and their Website.
Talos Energy is an independent oil and gas company that primarily focuses their efforts on offshore production and exploration. Their current expertise is based on acquiring assets in the Gulf Coast and the Gulf of Mexico. They have been working with offshore drilling rigs for over a decade and exhibit a strong background of positive results. Talos Energy is expanding rapidly and is proud to continue to provide a solid foundation that offers safe and environmentally friendly operations. They continually improve their businesses by striving to continually find the newest and best ways to operate their business. Their years of experience in the industry has exemplified much success and future business and more information click here.