The country of Mexico has been making some incredible advancements when it comes to the production of petroleum and natural gas. The country previously would only limit the production to companies that were government run and coming from within Mexico. But now for the first time in almost eighty years, the government of Mexico has decided to bring about reforms to the Mexican oil industry by allowing private companies to set up their oil rigs in Mexican territory. This has been a huge step for the country as well as the entire oil industry, as it would allow for a more efficient use of the resources that the country has.
One of the first companies to take advantage of this new policy that the government has put forward is Premier Oil. The company is one that is primarily based in the UK, and is going to pursue its operations in the country in collaboration with a number of oil and petroleum giants like Talos Energy and Sierra Oil and Gas. The generation of the oil wells for the extraction purposes will commence soon, allowing for a more efficient and prominent entry of these companies into the oil and petroleum industries. These operations will be marketed as a part of Mexico’s energy reform process, and will not only allow for the greater flow of oil and petroleum in the country but will also aid the growth of the Mexican economy. To know about Talos Energy click here.
The company is currently based in Houston in the United States. This partnership that the company is experiencing will allow for their growth and benefit them immensely. Talos energy has predicted that the entire operation will cost roughly around sixteen million dollars. The Mexican government had initially released a bidding system that allowed oil companies to be the first to enter the sector, with Talos Energy winning this, which is why they are authorized to set up their operations before anyone else.