There is a new oil well off the coast of Mexico. It’s the first in 80 years, a sign that perhaps the country is back on track financially. Talos Energy partnered with Premier Oil to establish the oil well as drilling started on May 21. This is the first oil project to be completed by a company other than Petroleos Mexicanos. Once the well is built and is up and running, it can hold anywhere between 100 and 500 million barrels of oil, a significant amount that will benefit the people who live in Mexico.
It will take about 90 days to finish drilling in the ocean and to complete the rig before it’s fully operational. Premier is investing about $16 million in the project. The company, along with Talos Energy and another drilling business, secured the rights to build the rig after Mexico opened voting to outside sources in 2015. This is going to be a project that is monitored by the Mexican government and by the people who live in Mexico as it could lay the groundwork for future oil projects.
Talos Energy is an independent company that focuses on sustainability and modern approaches when drilling. The company is passionate about finding the ideal location to build oil rigs and securing the assets that are needed to complete projects. Talos Energy works closely with areas along the Gulf Coast and in the Gulf of Mexico as it wants to expand oil production in this area of the world.
There is a detailed strategy in place that Talos Energy uses when finding and securing locations for drilling. The latest seismic technology is used to find the best location that will see the least disruption from activity in the ocean. Specialized drilling and recovery methods are used to bring out the most oil possible from each location and in the healthiest and safest manner for the people who live in the area.
Read more about Talos Energy in this article.