The American Oil And Gas Company Talos Energy Set The Date For The Start Of Appraisal Drilling At Its Giant Zama Discovery In The Gulf Of Mexico. Brazilians Who Sent Resumes To Ensco Last Week, Stay Tuned!
The Zama-1 discovery, made in July 2017, was the first offshore exploration well drilled by the private sector in the history of Mexico, and the oil from the Zama field is expected to be between 1.4 and 2.0 billion barrels of oil equivalent. In an update released on Monday, the company announced that, following the recent approval of the appraisal plan, it expected to spud the first appraisal well – Zama-2 – at the end of November 2018.
The company previously stated that it would use the same drilling equipment that it used when it found Zama – the Ensco 8503. According to Marine Traffic, the equipment has not yet arrived in Mexico, as the AIS shows it is located off the coast of Louisiana, USA Gulf of Mexico. Talos estimates that the appraisal drilling program, which includes three new penetrations into the reservoir, will be completed by mid-2019.
The first well of the program, Zama-2, will be deepened by approximately 500 meters to test an exploration prospect called Marte. The estimated cost to deepen the Zama-2 well for the Marte test is approximately US$ 10.0 million gross, with Talos’s share expected to be approximately US$ 3.5 million.
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Talos expects its net share of costs to be approximately US$ 75.0 million to US$ 80.0 million for the entire appraisal campaign. Talos previously stated that it expects to announce the final investment decision for the Zama development project in Q4 2019 or Q1 2020, with first oil expected in 2022. Production would ramp up until 2024, with additional facilities being installed in the field.
Talos stated that the Zama discovery could contribute nearly 10% of Mexico’s oil production by 2024. The plan is to develop Zama with three production platforms across the structure. The field will continue to be developed until 2024, when the Platform C is expected to be installed.
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