For almost 80 years, the Mexican government allowed private firms to invest in Mexican waters. The private joint ventures that started drilling the well from May 21st include Houston`s Talos Energy LLC, Premier Oil PLC, and Mexican Oil & Gas. This is the first time in history when these first companies launched offshore exploitation apart from the state monopoly government. The Mexican Government started the process of nationalizing the oil industry in 1938.
The process of drilling oil will take place for three months, and it will cost approximately $16 million. The Zama-1 well located in Sureste Basin of Tabasco argue that the total amount of oil expected to be drilled between 100 and 500 barrels. The three companies mentioned above won this projects in 2015 when the Mexican first voted to open the oil industry to private companies. Elaine Reynolds an analyst based in London argue that this opening of the oil industry to the independent firms is part of country major progress and development. Talos Energy is part of the operator in the well holding 35 % of all stake while Premier and Sierra own 25% and 40% respectively.
Talos Energy is a private company that was started in 2012. The main areas of expertise are producing and exploring hydrocarbons in United States Gulf of Mexico Regions. Talos Energy was launched in partnership with Riverstone Holdings and Apollo Global Management with that aim of buying assets in Gulf Coast.
Talos Energy also engages it in business investment such as farm-ins and JV`s and have utilized about 10.2 million acres of seismic inventory. Talos Energy built and later sold two private equity: Gryphon Foundation and Phoenix Exploration. Over a decade now, Talos Energy has a proven track record of using innovative features to develop working and valuable portfolio management that result in significant production and exploration firm.