When the Zamas Project led by Talos Energy discovered a large oil and gas deposit in the Southern Gulf of Mexico it was big news for the company. It turns out that it may be big news for the state-run company as well as they believe that the significant oil deposit may not only be under the land ran by Talos, but also a Pemex ran sector as well. If this is the case, the 2 companies will need to work closely together to source the natural resources which may amount billions of barrels. The 2 companies are working hard to come up with a partnership agreement to share the responsibilities of drilling along with the revenue from the project if these suspicions do turn out to be correct.
In order to confirm whether or not the deposits extend into the land controlled by Pemex, the company is going to be doing drilling on their own site to see if they are able to access the oil
and gas. They are hoping to complete this as quickly as possible before the end of this year so they can get to work producing a significant amount of oil and gas for the economy of Mexico. The oil industry of Mexico has been facing issues in the last decade or so as they have been going through a slump in production. By working with Talos Energy in order to produce this oil, they are expecting their situation to improve greatly.
If Pemex is able to confirm that these deposits do in fact extend onto their land, they are planning on working quickly to finalize the partnership and get to work. Talos Energy respects the sense of urgency that Pemex has towards the project and is planning on doing everything that they can to expedite the process and gather as much data as possible on the area in question. They are both fully committed to this potential partnership and are looking forward to what they can do together as a team. If everything goes as planned and the deposits are discovered on their land, it is expected that the deal will be completed by the end of 2019.
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