Right technological skills, proper and adequate manpower, good planning and the desire to achieve the initial target is basically what you will find in such a consortium- Talos Energy LLC. Talos has made an historic move by being the first private company to undertake offshore oil exploration tendered by the Mexican government.
Houston’s Talos Energy Company is basically a company whose primary functions are to explore, establish and acquire Oil and Gas. They have partnered with Premier Oil Plc, based in London and Sierra Oil & Gas based in Mexico. Together they gave birth to Sureste Basin-based Zama-1 well, drilling commenced on May 2, which is believed to hold crude of approximately 100 million to 500 million barrels.
The three companies were entitled with the task of drilling the well after winning bids from the Mexican Government. This was made possible with the fact that public companies entitled with such tasks were non-operational, giving private companies the advantage to show the world that they have the capacity and willingness to do what was required. Drilling is expected to reach a halt in three months; cost is $16 million to undertake the entire process of drilling. The process is expected to be successful considering the fact that the geographical location is in favor of the discovery.
This kind of discovery will be a revolutionary to country’s economy in terms of revenue generation and largely work creation. It will create an opportunity for foreign competitors to come into the energy market and invest vastly.
According to Charlie Sharp, an industrial expert from Canaccord Genuity Ltd, Zama-1 drilling is among the largest exploration in 2017. Talos Energy is in possession and control of 35% while Sierra Oil has 40% and 25% Premier Oil Plc.
To Read More : www.talosenergyllc.com/about-us/