Page 6 - LatAmOil Week 27 2021
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LatAmOil                                          MEXICO                                            LatAmOil



       Talos criticises SENER’s decision to




       name Pemex as the operator of Zama






                         US-BASED  Talos Energy revealed earlier   7 as the first private operator in the country,
                         this week that Mexico’s Secretariat of Energy   Talos drilled the exploratory well that led to
                         (SENER) had stripped it of its position as opera-  the Zama field discovery in July 2017,” it said.
                         tor of Zama, a large oilfield located off the coast   “Talos subsequently continued to invest in the
                         of Mexico’s Tabasco State.           Zama appraisal – and the Mexican economy –
                           In a statement, Talos said it had learned of   by drilling three additional wells as part of the
                         SENER’s decision to appoint Pemex, the national   delineation of the Zama field. Talos has consist-
                         oil company (NOC), as the new operator of the   ently demonstrated unrelenting commitment
                         field on July 2. The ministry informed the parties   to the optimal development of the field, as the
                         of its decision just three days after Pemex sub-  company has advanced a complete front-end
                         mitted a letter lobbying for the right to lead the   engineering and development (FEED) study
                         project, it reported.                and presented the National Hydrocarbons
                           SENER ordered the US company and its   Commission (CNH) a development plan that
                         partners in the Zama project to strike a deal   maximises oil and gas recovery and value to the
                         with Pemex on the unitisation of Zama with the   Mexican people.”
                         surrounding Asab, Chamak and Naquita fields   It added: “Talos has also consistently demon-
                         last year. It did so on the basis of studies show-  strated its capabilities and qualifications to be
                         ing that Zama and the other sites, all of which   the operator of the unit, its expertise operating
                         are assigned to Pemex, are part of the same   in Zama’s geology and water depth and its stel-
                         reservoirs.                          lar safety and environmental track record in its
                           Thus far, the parties have not been able to   operations in Mexico.”
                         reach an agreement, so under the terms of the   Zama is believed to hold nearly 700mn bar-
                         original order, SENER has the right to make a   rels of oil in recoverable reserves. Talos discov-
                         binding decision on the fate of the field.  ered the field in 2017. At the time, it was the
                           Talos has consistently opposed Pemex’s call   first major find made by a private or foreign oil
                         for unitisation, and it reiterated its objections   company in Mexico since that country’s govern-
                         in its statement. “After six years of significant   ment adopted major reforms in the oil sector,
                         investments in Zama and the Mexican economy,   thereby ending Pemex’s 75-year-old monopoly
                         as well as the delivery of a Zama development   on exploration.
                         plan that is credible and in line with the objec-  The US company has been working at Zama
                         tives of Mexico, Talos is very disappointed with   in a consortium with Wintershall Dea (Ger-
                         SENER’s sudden decision to award operatorship   many) and Premier Oil (UK). Equity in the
                         to Pemex, especially in light of the timing under   project is split 35% to Talos,40% to Wintershall
                         which the award occurred,” it remarked.  and 25% to Premier, which has retained its stake
                           It also touted its own commitment to the   in the field following its merger with Chrysaor
                         project, drawing attention to its extensive invest-  Holdings, another British company, into a new
                         ment in the field. “Since being awarded Block   company known as Harbour Energy. ™
























                   Zama, located in the southern Gulf of Mexico offshore Tabasco, holds around 700mn barrels of oil im recoverable reserves  (Image: Talos Energy)



       P6                                       www. NEWSBASE .com                           Week 27   08•July•2021
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