Talos Energy recently announced, in connection with its partnerships with Premier Oil Plc and Sierra O&G Exploración y Producción S. de R.L. de C.V. that the 2017 Zama discovery offshore Mexico received the “Discovery of the Year” award. The honor was handed out by the Association of International Petroleum Negotiators (AIPN). The Zama-1 discovery well was the original offshore exploration well to be drilled in Mexico and should bring about 1.4 to 2 billion barrels of oil. The operation did not cost as much as other operations of its size and is expected to yield results much sooner than most discoveries of its kind.
The AIPN nominations committee had to work very hard to pick out a winner for the award and Talos was among other companies including Hess and Nexen and ExxonMobil to be nominated. Timothy S. Duncan, president and CEO of Talos Energy, commented on the discovery by calling it historic. He went on to remark that the award indicates the true success of the Mexican energy reform policy and expects it to continue to attract more money and jobs for locals. He finished his statement by saying how proud he was of his company for all of the work it had done to make the discovery possible.
In 2015, Talos Energy partnered up with Premier and Sierra to execute a pair of production sharing contracts with the National Hydrocarbons Commission. These were Block 7 and Block 2, and they were awarded to the partnership during the time when Mexico was opening up its natural gas and oil fields for the first time in more than eight decades. The Block’s are based in the Sureste Basin, which is located off of the coast of the nation’s Tabasco and Veracruz states. Between the two Blocks, there are more than 160,000 acres, and there are plenty of high impact prospects there.
Talos Energy is headquartered in Houston, Texas and has operated for many years in the oil and gas industry. It is an independent production and exploration company that works within the Gulf of Mexico and the United States. The main goals of the company are to acquire, exploit, and develop gas and oil in shallow and deep waters.