OEF Rapid Review
Mexico’s decision to allow private companies to explore for oil and gas in an effort to reverse the decline in the country’s oil production has started to pay off. The Zama discovery announced by Premier Oil, Sierra Oil & Gas and Talos Energy “is the most important achievement so far of Mexico’s energy reform” and “is one of the 15 largest shallow-water fields discovered globally in the past 20 years.” Estimates of oil in place are 1 billion to 1.5 billion barrels. The government will receive a 68.99 percent profit share from every barrel produced.
LINK TO THE SOURCE ARTICLE:
Mexico Oil Privatization: Billion-Barrel Zama Discovery
