One of the major and the most profitable industries in Mexico are the oil and gas drilling and exploring industry. The country earns a significant part of its revenue through the oil and gas industry, and since this sector has been in a lull for the last few years, the Mexican Government has been planning some major reform moves. In one of such moves, the Mexican Government proposed to allow the foreign oil based firms to explore and drill oil and gas from the Gulf of Mexico.
Pemex or the Petroleos Mexicano is a Mexican oil and gas drilling firm that has been dominating the oil and gas industry of the country for long. The company has an extensive fleet of offshore oil and gas drilling fleet, considered to be one of the largest in the world. However, the company hasn’t been able to cover the extensive region of Gulf of Mexico as soon as the Mexican Government would have wanted.
To accelerate the process of oil and gas exploration and drilling, the Mexican Government had to allow the other main companies in the oil and gas sector to come and drill in the Gulf of Mexico. To make full use of such an invitation by the Mexican government, Premier Oil of UK, Talos Energy of the United States, and Sierra Oil and Gas of Mexico collaborated recently to carry out oil and gas exploration in the Gulf of Mexico. To know more about Talos Energy click here.
The first venture for oil and gas drilling would be undertaken in Suerte Basin in the Gulf of Mexico by the London based Premier Oil. The region is known to be oil rich, and it is expected that close to 500 million barrels of crude oil can be drilled from the basin. However, the final amount can be known after the completion of the project.
Talos Energy would be following suit after the Premier Oil is done drilling in the region. Talos Energy is known to be one of the fastest growing firms in the oil and gas sector in the United States. It recently also acquired the famous Energy Resource Technology GOM Inc, a well-known oil company in the United States.