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Petroleum Cartels and Mexploitation

2017/07/12

Investors Find Major Oil Deposit in Gulf of Mexico

Premier Oil, Talos Energy and Sierra Oil & Gas uncover ‘world-class’ formation in boon for Mexican government

MEXICO CITY—One of Mexico’s earliest private-sector energy investors says that it has struck it big with a significant oil discovery in Mexican waters.

Britain’s Premier Oil PLC, along with partners Talos Energy of Houston and Sierra Oil & Gas of Mexico City, said Wednesday that exploratory drilling in the Zama-1 field, located in the shallow waters of the Gulf of Mexico, had uncovered a “world-class” formation with between 1.4 billion and two billion barrels of light crude oil, or roughly double earlier predictions.

Earlier this year, the group had estimated that there were between 700 million and 800 million barrels in the deposit.

(Excerpt)

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12 July 2017
The Wall Street Journal – Latin America

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