When Mexico voted on energy reforms in 2014, history was being made in the country. There are many companies involved like Talos Every with their asset privatization who are helping the country increase their capabilities for production in oil fields of Mexico. While there are a handful of other companies who won operating rights in the 14 fields that they made available during the first round, Talos was the first to start drilling a well to s start producing barrels of oil and equivalent.
When Mexico first announced that they would be privatizing some of national assets, some parties who are supporters of nationalization made their worries about monopolies known. They believed that social welfare would be at risk if monopolies were able to strengthen or develop in the country. While this is always a risk when making reforms of this nature, Talos Energy and the other companies involved are working on finding the right middle background to maximize the outcome for everyone that is affected.
On the other side of the spectrum, it’s almost inevitable that Mexico will be able to increase their oil production through their partnerships with Talos Energy, Sierra Oil, and Gas, along with other companies. So far, the increase that they made in production has impressed many and it is believed that their capabilities will continue to grow as these companies establish themselves in the area. In Spring of 2018, it was announced that Mexico had already added more than 250 million barrels to their reserves. Currently, Mexico has around 8.5 billion barrels in reserves right now.
Out of the 14 blocks that Mexico had made available, Talos Energy now has control over 2. They have already started the process of drilling in one of the area’s sites and are doing exploration and research to find future sites. The company is led by Tim Duncan who has many years of experience in oil industry dating back from his childhood. He has a degree from Mississippi State University in Petroleum Engineering and is a fellow of the College of Engineering as od 2012.
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