There are different outcomes whenever a country has massive energy reforms. Mexico went through such reforms in 2014. The energy reforms have led to positive changes in the oil industry in Mexico; it has increased efficiency and boosts production. Mexico has about 8.5 billion in oil reserves. Talos energy was one of the companies to win a contract from Mexico. In 2015 alone, the company won two contracts, in the first round of lease sale.
This is a placeholder account for Talos Energy LLC in Houston, Texas. Questions about the company should be directed to 713-328-3000.
— talosenergy (@talosenergyllc) February 12, 2013
Talos Energy became the first company to drill a well in the history of Mexico. Even though Talos energy is a foreign firm, it has managed to win the Mexico contracts. One of the reasons is because of its leadership. Tim Duncan, the founder, and president of Talos has been in the forefront to its growth. He got honored as a fellow of the college of engineering in 2012. Duncan has also attended the University of Houston for his master’s in business administration. Talos energy participates in the development, exploration, and production of oil and natural gas. The company explores oil and gas in the Gulf of Mexico and the gulf coast.
Talos energy is definitely up for the challenge; it has the resources needed to complete the project. Talos company announced its expectations on the investment decisions on Zama 3 and Zama 2 project that will take place in 1Q 2020 and 4Q in 2019. The first oil from the project is expected to be in 2022. Talos is working with Mexican suppliers to provide casing supply, shore base support, communications, anchor handling, and engineers from McDermott’s Mexico City office.
The estimated amount of money that Talos and partners plan on spending on Mexico appraisal is about $250 million. The company also formed new partnerships with the local Mexican suppliers. The Zama project has many Mexicans on board who support the operations. The impact of the project is too massive in the Mexican economy. The period of commencement of the project will provide Talos energy with enough time to keep track of its goal. The firm’s goal is to have initial production for Zama project by 2022.
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