Talos, Pemex Told to Seek Deal on Shared Offshore Oil Discovery

Mexico’s state oil company Pemex and a private consortium led by U.S.-based Talos Energy Inc have been instructed to come to an agreement detailing how they will jointly develop a large offshore oil find, the energy ministry said on Wednesday.

The formal instruction from the energy ministry, dated July 7 but announced in a statement on Wednesday, follows a determination that the Zama discovery made in the Talos-operated block in the Gulf of Mexico extends into Pemex’s neighboring block.

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