Page 4 - LatAmOil Week 12 2023

LatAmOil COMMENTARY LatAmOil

(Image: Wintershall Dea)
Pemex, Talos in deal

for Zama development

Mexico’s NOC touts a new arrangement designed to allow privately-owned

US, German and UK partners the ability to collaborate in upstream decisions

MEXICO’S national oil company (NOC) Pemex with the oil and gas extracted from the field to be
and US-based Talos Energy have finally reached sent to a new onshore facility at the port of Dos
WHAT: agreement on the development of Zama, a mas- Bocas in Tabasco State. According to Pemex,
Pemex has submitted a sive oilfield in the southern Gulf of Mexico. Zama will eventually yield 180,000 barrels per
new plan for working with Under the deal finalised last week, Talos and day (bpd) of oil, equivalent to about 10% of Mex-
Talos and its other part- its private-sector partners will have the oppor- ico’s total crude production.
ners to CNH for approval. tunity to join Pemex in making operational Regulatory approval for the field develop-
WHY: decisions at the field, which wrested operator- ment plan (FDP) is one of the last steps before
ship away from the US firm via a unitisation
the companies involved in the project commit to
Relationships between plan imposed by the Mexican government. The investment. The partners expect to make a final
shareholders in the
project have been tense plan, which was submitted to Mexico’s National investment decision (FID) within the next year,
ever since Pemex was Hydrocarbons Commission (CNH) for according to Wintershall.
made operator. approval on March 23, calls for creating an inte-
grated project team (IPT) consisting of Pemex, Public statements
WHAT NEXT: Talos, Wintershall Dea (Germany) and Harbour In statements announcing the deal on March 23,
Talos may be worrying Energy (UK). It states that all stakeholders will the private shareholders in Zama struck upbeat
about whether it will have collaborate in shaping the development of the notes on the latest developments.
to explore new acreage site, which holds around 800mn barrels of oil. Stuart Wheaton, Harbour Energy’s execu-
without compensation. The Zama development plan envisions the tive vice president for international business,
drilling of 46 wells from two offshore platforms, expressed optimism about the new plan.

P4 www. NEWSBASE .com Week 13 29•March•2023