Listen to the latest episode of our newest podcast After submitting your information, you will receive an email. Instead, the commission voted to rename and expand the area of Pemex’s block and to reissue a lease for 30 years.In May, the National Hydrocarbon Commission produced a study that speculated that there was hydraulic connectivity between the western (Talos) and eastern (Pemex) portions of the reservoir. Key Assets: Zama Discovery. We combine our technical experience in geology, geophysics and engineering with innovative resource evaluation techniques and seismic imaging expertise to discover new resources. Such connectivity is shown by conducting a pressure test on both sides of a structure; but, as a Pemex well had not been drilled, the only data used were those supplied by Talos on its side.Nahle on July 7 ordered the parties to reach an agreement within 120 days. Microsoft may earn an Affiliate Commission if you purchase something through recommended links in this article. The Gulf of Mexico-focused oil company Talos Energy has acquired assets from affiliates of Castex Energy 2005. You can sign up for additional subscriptions at any time.Talos is a leader in offshore energy exploration and production. The Gulf of Mexico-focused oil company Talos Energy has acquired assets from affiliates of Castex Energy 2005. Or else. That statement has been consistent.”What’s more, Duncan said, due to budgetary constraints, Pemex alone will be unable to make the investments required to keep the country’s oil and gas production afloat.He said the members of Amexhi, Mexico’s main oil and gas trade organization, have invested about $14 billion to date in the country, with another $45 billion pending, “so call that close to $60 billion.”He added, “So it’s impossible to not think about the contribution of the private sector. Talos Energy is a leading offshore energy company focused on oil and gas exploration and production in the United States Gulf of Mexico and offshore Mexico.To receive notifications via email, enter your email address and select at least one subscription below. Planned and managed Exploration and Appraisal projects of Talos Energy Mexico (Zama Field).
The Guidelines provide that when the parties do not agree, the Ministry has one year to unilaterally impose the terms by which the ownership and administration of a reservoir will be conducted.How will this story likely play out? Zama Est. At a minimum, they’re doubling up what Pemex can go out there and do, and we want Pemex to do very well.“We want them to be successful, but know that the private sector is also doubling down on investment in offshore Mexico.”Part of the Zama deposit is located in acreage controlled by Pemex, which is why Pemex and the Block 7 consortium signed a pre-unitization agreement in 2018 under the previous government to chart a path forward for jointly developing the resource.Pemex has yet to conduct the necessary appraisal drilling to determine the reservoir’s extent within the Pemex block.“In Mexico, we are making progress on our Zama project by finalizing engineering design while continuing to work with Pemex on unitization as part of the formal instructions to reach an agreement in the next six months,” Duncan said.He told analysts, “With respect to Zama, I think our big push and our big statement is we think we’re well prepared to get that production online in this president’s administration, and we just keep pounding and pounding that message while we continue to negotiate with Pemex.”He added, “It’s an amazing discovery. The 600-million-barrel discovery, the largest in a generation, was made near the eastern edge of a block, the commercial rights to which the consortium had won in the first lease auction in 2015.It was no surprise to the consortium that data from the discovery well, Zama-1, indicated that the reservoir extended eastward beyond the lease.
These seemingly anodyne formulations can have toxic effects.There is a systemic bias that, in a commercial dispute, authorities would favor claims of Pemex over those of a private party regarding the ownership of a lease. TALOS ENERGY ALERT: Bragar Eagel & Squire, P.C. Talos said on Monday that it had executed the agreement to buy selected assets from Castex Energy 2005 on 19 June 2020. History. The company is based in Houston, Texas. Mexico; Corporate Responsibility. Field/Asset Illustrations 3. By George Baker Talos Energy struck it big in 2017 when it became the first private company to make a major discovery offshore of Mexico. 16, 2020 at 7:01 a.m. The company’s production currently comes entirely from its acreage in the U.S. Gulf of Mexico. Talos said Monday that the acquired assets consisted of 16 properties in which Talos currently holds a working interest, all located in its U.S. Gulf of Mexico Shelf core area. In the minutes leading up to the 10:30 a.m. Regional Map. We rely on decades of operational experience to safely and responsibly optimize production and recovery from our assets. © 2020 Natural Gas Intelligence. When it came to the lack of confirmatory data from a well drilled on its side of the lease line, Pemex and the Ministry insisted on the validity of “other facts.”The discovery by Talos Energy was justly celebrated as evidence that Mexico’s energy reforms — and the philosophy behind them — had merit. Talos Energy in the crosshairs: How systemic bias hurts private oil companies in MexicoShow full articles without "Continue Reading" button for {0} hours. We offer competitive benefits, flexible work schedules to promote work/life balance, opportunities for advancement and much more.
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