Talos Energy and Petróleos Mexicanos (Pemex) have received the final unitisation resolution (UR) from Mexico’s Ministry of Energy regarding their co-development of the Zama field offshore Mexico.
Unitisation of the field was required after the companies determined that the field is located within both a Talos-operated block and an adjacent Pemex-operated block, and were unable to agree on how to share the field.
Through the UR, Pemex has been appointed operator of the unit. Talos will maintain a 17.35% participating interest in the field.
A third-party reserves auditor estimated the discovered recoverable resource volumes in the Zama field to be between 735m and 950m barrels of oil equivalent. The field could produce over 160,000 barrels of oil equivalent per day once fully developed, according to a statement from Talos.
Talos said it anticipates submission of a unit development plan for approval by the working interest partners within 12 months, a critical step before the parties can make a final investment decision in 2023.
