Pemex Submitted Development Plan for Oil, Natural Gas Project

SEATTLE (Oil Monster): Mexican state oil company Petroleos Mexicanos (Pemex) announced that it has submitted a development plan for the Zama shallow water oil, natural gas project off Mexico’s southeastern coast.

The development plan comprises two offshore fixed platforms, 46 dry-tree wells, and oil and gas transportation to new facilities at the Dos Bocas maritime terminal in Tabasco state. The upstream regulator Comisión Nacional de Hidrocarburos (CNH) is expected to take a decision on the development plan within a period of six months. This will give way for a final investment decision (FID).

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According to Timothy Duncan, CEO, Talos, the announcement represents an important step in moving the Zama project forward. The company recognizes the importance of the project to Mexico and looks forward to continue the collaboration as the project advances to FID.

Zama is expected to have a production capacity of up to 180,000 boe/d of oil and gas, which equates to over 10% of Mexico’s current production.

Zama is operated by Pemex, which owns a 50.4% participating interest in the project. The remaining stakeholders include Houston-based Talos Energy Inc. (17.4%), Germany’s Wintershall Dea GmbH (19.8%) and Edinburgh, Scotland-based Harbour Energy plc (12.4%).