The Gulf of Mexico contains many undiscovered wonders, one of them was found, as the company Talos perused the shallow waters of the Gulf, discovering a massive deposit of recoverable oil in the millions of barrels. Talos Energy is likely to extend this discovery to the Mexican company Pemex, who is planning to drill a well there later this year. Swarming this area is Talos Energy, Mexico’s Sierra Oil and Gas, and Britain’s Premier Oil. Talos Energy formed a consortium in order to take advantage of this resourceful discovery of offshore oil. The Zama project, which led to this discovery, plans to put over $300 million into this to drill new wells and is scheduled to be completed by the middle of 2019.
This consortium is considering what infrastructure they are going to need to build in order to make use of this discovery, deciding to build several structures in 500 feet of water, but will allow the market to take advantage of the gas ending up in the local market. It is an anticipation of all the companies in the consortium to share this boon and to fill the slump in Mexico’s oil reserves.
Talos Energy’s operations are mainly concentrated in the Gulf of Mexico, and the gulf coast of Louisiana and they are interested in offshore oil reserves. Founded in 2012, the company’s headquarters is in Houston, TX. It is an independent company headed by Michael L. Harding II and William S. Moss III.
The Zama project has one of the largest oil fields in the Gulf of Mexico, and landed this discovery as the biggest discovery of 2017, according to Woodmkenzie’s annual exploration discovery awards. The company is committed to safely exploring and exploiting oil and gas reserves for this generation and all of the generations that follow.