• BENEFITS: Mexico’s benefit from the exploitation of the Zama oilfield in the Gulf of Mexico could be around USD 28 billion in total royalties, taxes and joint production during the whole life cycle of the project, said Texas-based Talos Energy, the company leading a larger private consortium
• COMPANY: “We project that if we look at the universe of everything that will be generated from taxes, royalties (…) it will be around USD 28 billion. That’s 81% of total revenues”, said Loren Long, Talos Energy vice president for Mexico, during a S&P Global Platts conference in Mexico City.
• NEGOTIATIONS: Given that Mexico’s state-owned oil company, Pemex, controls an adjacent area to Zama, the consortium and Pemex have engaged in negotiations since August towards a final decision in 2020 on a potential unification process that would decide who operates the oilfield.
• EXPECTATION: “Keep in mind, we have spent all the money to date, and we have taken all the risk…And so we feel good about our position, but we’re mindful and respectful of Pemex”, said Tim Duncan, president and CEO Talos Energy, during an earnings call last week.
