With the world’s reliance on fossil fuels, the oil industry is an important part of almost every country’s economy. This is especially true for the country of Mexico that has experienced a significant slump when it comes to production that has lasted the last 14 years. Fortunately, things do appear to be looking up for the industry as Pemex, the state-run oil and gas company is possibly sitting on a chunk of a find that may consist of billions of barrels of gas and oil. The discovery in question was found by Talos Energy during their Zamas project in the Gulf of Mexico. The area in which the deposit was discovered is adjacent to one of the blocks that is run by Pemex. The reason why the find is such an exciting one for Mexico is that it is widely believed that it extends into their block.
In order to maximize production capabilities for the discovery, the 2 companies will have to work closely together when it comes to drilling and handling the revenue from the project. Plans are already in the works if further exploration and data shows that the deposit is in fact in Pemex’s block. In order to find if these suspicions are correct, Pemex is planning on doing drilling on their block to confirm if the deposit extends that far or not. If it does, the 2 companies have come to an agreement which will allow them to quickly work together to produce a large amount of oil and gas.
Along with the company that Talos Energy and Pemex are producing themselves, other companies that have worked in the area are also sharing whatever information they have to help them more accurately find the extent of these oil deposits. If everything goes to plan, Talos is planning on investing $100’s of millions into the project in conjunction with Pemex. The President-elect of Mexico has spoken with the CEO of Talos, Tim Duncan, about the plans for this area. He believes that it will be beneficial for the oil industry of Mexico and their economy in general.