PW
Español

 

PW
Guyana
Surinam


PW
Trinidad

& Tobago
Caribbean

 

Prices
Graphics

 




Very usefull links



PW
Bookstore





Blogspots

The Global Barrel

Tiempo Culural

Gustavo Coronel

Iran Watch.org

Le Blog des
Energies Nouvelles

News Links

AP

AFP

Aljazeera

Dow Jones

Reuters

Bloomberg

Views and News
from
Norway

 

PW
Bookstore

 

 

 

Pemex and Talos negotiations over
Zama oil field could take some time

Talos Energy

Pemex Talks With Talos Over Zama Oil Field May Miss Deadline

- Talks over unification with Pemex field may last for weeks
- Talos consortium and Pemex discuss merger of nearby oil fields

By Amy Stillman/Bloomberg

MEXICO CITY
Petroleumworld 03 25 2021

Talks between Petroleos Mexicanos and a group of foreign companies over how to develop the giant Zama oil field may miss a deadline as both sides continue to negotiate the technical details of a potential agreement.

The talks are expected to continue beyond Thursday's deadline for an accord and could last for weeks, according to a person with direct knowledge of the matter, who asked not to be identified because the negotiations are private.

At stake is a deal allowing Zama, which was discovered in 2017 by a group of foreign oil producers led by Talos Energy Inc. of the U.S., to be merged with a Pemex field nearby. The companies began unification proceedings after finding both fields share the same reservoir and signed a preliminary agreement to share information in 2018.

Despite years of talks, both sides have yet to agree on who should have a majority stake in the combined field and who would operate it. The current round of discussions has still to establish how profits should be split and who will operate the shared reservoir, the person said. Representatives for Pemex and Talos didn't immediately respond to calls and emails seeking comment.

The outcome of the latest round of negotiations is being closely watched by the global oil industry after a series of measures by President Andres Manuel Lopez Obrador to dial back the liberalizing energy reforms of his predecessor. After sweeping into power in late 2018, Lopez Obrador canceled oil and gas auctions, and he's now threatening to change the constitution following legal battles with the private electricity industry.

If both sides in the Zama talks fail to get a deal by Thursday's deadline, the energy ministry will be charged with finalizing an agreement, though Pemex and the consortium will still have to sign off on it, the person said. A previous deadline to finalize the deal was extended in December.

Talos's partners in Zama are Wintershall DEA subsidiary Sierra Oil & Gas and Premier Oil Plcl.

______________

By Amy Stillman from Bloomberg

bloomberg.com
03 24 2021

TOP

Contact: editor@petroleumworld.com,

Editor & Publisher:Elio Ohep /
Contact Email: editor@petroleumworld.com

CopyRight © 1999-2021, Elio Ohep A. - All Rights Reserved. Legal Information

PW in Top 100 Energy Sites

CopyRight©1999-2021, Petroleumworld   / Elio Ohep - All rights reserved

This site is a public free site and it contains copyrighted material the use of which has not always been specifically authorized by the copyright owner.We are making such material available in our efforts to advance understanding of business, environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have chosen to view the included information for research, information, and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission fromPetroleumworld or the copyright owner of the material.