Talos Energy Inc., Houston, will explore legal and strategic options after Mexico's Ministry of Energy (SENER) designated Petróleos Mexicanos (Pemex) as operator of the Zama asset offshore Mexico, the company said July 5. The company was notified of the designation July 2.
“After six years of significant investments in Zama and the Mexican economy, as well as the delivery of a Zama development plan that is credible and in line with the objectives of Mexico, Talos is very disappointed with SENER's sudden decision to award operatorship to Pemex, especially in light of the timing under which the award occurred,” the company said.
Discovered in 2017 by a Talos-led consortium with partners Premier Oil and Wintershall Dea, Zama is a shared reservoir that extends from Block 7 to neighboring AE-0152-Uchukil Asignación in the Cuencas del Sureste, in the Bay of Campeche in Mexico, operated by Pemex. Gross volumes are estimated at 735 MMboe of 2C resources, with 60% expected to be contained within Block 7.
Unitization efforts moved into a new phase in March, with SENER tasked with proposing finalized terms of a Unitization and Unit Operating Agreement (UUOA) for the field, as established by Mexican regulation (OGJ Online, Mar. 26, 2021).
Since being awarded Block 7 as the first private operator in the country, Talos drilled the exploratory well that led to the Zama field discovery in July 2017. Talos subsequently drilled three additional wells as part of the delineation of the field. Talos also advanced a complete Front End Engineering and Development (FEED) study and presented a development plan to the National Hydrocarbons Commission (CNH).