It’s been a long time since Mexico has advanced their commitment to the oil industry in its offshore waters. They’ve been silent and the industry wasn’t updating for nearly 80 years, but, in 2017, Mexico has finally invested in the front with a new well. Since 1938, no events like this have happened as Mexico nationalized the industry.
In 80 years, 2017 was the first time the private company Oil Plc, together with Houston’s Talos Energy LLC and their partner oil firm Sierra Oil & Gas, invested in the oil well and began trilling the content with ease. The Mexican waters have always been a target of the private companies in the country, but it’s been almost a century that the nation has not given attention to the matter.
This action will help the country attract competitors from the exterior market, and multinational companies are more likely to want to install a subsidiary in the Mexican territory. The energy industry will have more participants and a higher potential as a result of the construction of the well.
The Talos Energy LLC is one of the most prominent energy companies for Mexico, and it was founded by the entrepreneur Tim Duncan, the financial expert who rose the company to its current net –worth of almost a billion dollars.
The Talos Energy has begun drilling the well with their partners under Tim Duncan’s supervision since May 21 of 2017.
Talos Energy has many assets in the Gulf of Mexico, and they are, although a relatively small company compared to the standards of the international oil industry, they are responsible for thousands of barrels of oils for the last couple of years, being a key participant in the energy market and the development of Mexico in this department.
The opening of the well is a major event for the improvement of Mexico in the international run for the oil market. The offshore of the nation has a lot of potential, and the exterior market could be the key to a better development of the country.
In such a future Tim Duncan’s company, Talos Energy LLC, will be a significant partner in turning Mexico into a great target for the oil companies.