Talos Energy’s interest in Zama-1 Project

PEMEX discovery of the Zama-1 Project.

PEMEX, an exploration company dealing with the discovery of gas and oil, has recently made a discovery of an oil reserve off the Mexican coast near Sureste Basin. The drilling companies want to bid for the acquisition of the drilling project. This reserve has a big potential of producing billions of oil barrels hence a lot of companies are competing to take part in the drilling and supplying of the oil across the country.

This reserve has been named as the Zama-1 well. 400-800MMbbl could be recovered from this reserve which has bears oil to more than a thousand feet. The oil volumes of this reserve could extend into another reserve which PEMEX is also in control of. Some drilling companies have shown interest in this project so that PEMEX will have a maximum efficiency in its operation. Activities of appraisal drilling will start late this year or early next year. The interested drilling companies include Talos Energy, Sierra Oil & Gas, and Premier Oil.

Projects of the Premier Oil Company.

Premier Oil has partnered with other oil companies in the offshore block-2 project where it has an extendable 10% interest. A determination through study is being made on the projects in order to realize the project that should be worked on first. Premier Oil has also determined the best prospects in the projects that are off the coast of Brazil where it has shown interest.

Premier Oil are partners with Petronas in projects off Mauritania’s Coasts though oil production has been officially and permanently stopped. A drillship is using water injectors to temporary suspend the oil production in these fields. The government will approve of the abandonment plan where suspension will be done permanently.

Tough times for the economy have risen. Therefore, energy exploration and drilling companies must be competent to remain in this market. This will be by delivering its projects within the required time. They must be accurate with the projects’ data. If they fail to deliver such requirements, other firms will be ready to work with government-owned nationalized companies such as PEMEX.

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