Major oil discovery heralded offshore Mexico

13 Jul 2017   Mexico

An energy company working off the eastern coast of Mexico said Wednesday it made a discovery that could hold as much as 2 billion barrels of oil. Talos Energy, working alongside joint venture partners Sierra Oil and Gas and Premier Oil, said it confirmed a discovery at the Zama-1 exploration well off the coast of Mexico. Initial estimates put the reserve potential at between 1.4 billion and 2 billion barrels of oil, which exceeded early expectations. “This is both a historic and significant discovery,” Talos President and CEO Tim Duncan said in a statement . Sierra Oil and Gas, a Mexican company, is the majority stakeholder in the partnership. The discovery follows similar claims made by Italian energy company Eni in March, which confirmed […]

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