Mexico is one of the few wealthy oil-processing countries we have in the world today. Despite the wealthy status of this country owing to the hundred million barrels of crude oils beneath its surfaces, Mexico has not be able to reap from the benefits of this sector. The key reason behind the lack of progressiveness in this industry has been due to monopoly control. Since the nationalization of the Mexican oil industry in 1938, almost eight decades ago, this industry has been controlled by only one state-run drilling company, Petroleos Mexicanos.
However, things are changing to the better. In 2015 the country voted to allow control of private oil and gas drilling companies in the industry. This situation saw at least three private companies win drilling contracts in the first bidding process. These companies were led by Mexico’s own local company Mexico’s Sierra Oil & Gas and two international companies Premier Oil Plc from London and Houston’s Talos Energy LLC and learn more about Talos Energy.
The three companies will commence their extraction activities at one of Mexico’s richest oil wells the Zama-1 well. This oil well is strategically located at the Sureste Basin off the state of Tabasco. In addition to having an estimate of 100 to 500 million barrels of crude oil, this well was selected because of its complexities. The drilling processes is expected to take a budget of $16 million and a maximum of 90 days. In addition to extracting the crude oil, allowing these private international oil-drilling companies in the Mexican waters is strategic as it will help other industries players learn a thing or two and contact their.
About Talos Energy
The choice of Talos Energy to help with the oil drilling process in one of Mexico’s biggest well dam is well calculated. This is because the Houston based oil and drilling company possess some of the best brains and equipment in the industry and not forgetting the finances, hence helping with a smooth process. Up to date, Talos Energy has been involved and has worked on a number of sites around the Gulf of Mexico and Gulf Coast thus giving it the experience of a market leader and more information click here.