Zama-1 is currently considered to be one of the most interesting exploration projects of the year. It has been 81 years and finally, Mexico is about to have its first independent oil well. The Mexican authorities are considering this to be the first offshore exploration well to be launched independently and privately. Together, a group of companies, with Houston’s Talos Energy leading the way, has joined forces to make this project finally come true. It has been estimated that the projected cost of this project will be around $16 million dollars, and the estimated date of completion is 90 days. It has been noted that the operators of the well, Talos Energy, Sierra, and Premier hold some stake in the venture.
Talos Energy is a private upstream oil and gas company based in Houston, TX which employs over 150 people. Talos Energy focuses its operations on the Gulf of Mexico and the Gulf Coast. In 2013, Talos Energy was named the best workplace among local small businesses and Talos has been ranked in the top workplaces by The Houston Chronicle and WorkplaceDynamics. Founder by, once Senior Vice President of Business Development and a founder of Phoenix Exploration Company LP, Tim Duncan, Talos Energy seeks to find innovative ways to change things in the current market like increasing hydrocarbon recovery with specialized drilling and completion techniques, and to help fulfill our commitment to health, safety and environmental compliance in their operations.
Talos Energy has also let it be known that they are focused on finding innovative ways of recovering valuable resources that were previously thought of being completely out of reach. Talos Energy is currently working on a project in Mexico alongside fellow companies Premier Oil Plc, Houston’s Talos Energy LLC and Mexico’s Sierra Oil & Gas. This will be the first time in 81 years when Mexico will have its own private oil well.