Talos Energy Inc. along with Block 7 partners and Petróleos Mexicanos (Pemex) have 120 working days to submit a Unitization and Unit Operating Agreement to Mexico's Ministry of Energy (SENER) that will serve as the governing document of a unitized consortium over the life of Zama field offshore Mexico’s Sureste basin.
Talos is operator of Block 7 in a partnership with Wintershall Dea and Premier Oil. Zama field extends from Block 7 into the neighboring block to the east, which is operated by Pemex. Constitution of a formal unit is required prior to final investment decision and field development (OGJ Online, Jan. 7, 2020). Official instruction to unitize was given to Talos by SENER on July 7.
The UUOA will address such topics as initial participating interests, roles of the parties, and reimbursement of exploration and appraisal costs spent to date, as well as a redetermination mechanism for adjusting the initial participating interests as additional technical data is collected.
Pre-FEED has been completed, and early FEED work has begun to develop the detailed engineering plans for Zama. Development will include two fixed production facilities capable of handling a combined 150,000 b/d of oil, plus associated gas. In 550 ft of water, the platforms would be the deepest facilities ever installed in Mexico, Talos said.