Since the nationalization of oil industry in Mexico, there had not been an offshore exploration by partnerships or companies apart from the Petroleos Mexicanos, a monopoly company runs by the state. Therefore, the oil drilling after almost 80 years by a partnership of private foreign investors was a great achievement to the energy market at large due to the fall in market by Mexico before it opened a bid to private investors in which the partnership won. The partnership being amongst Premier Oil with twenty five percent, Talos Energy with thirty five percent and Sierra Oil and Gas with forty percent. The oil well was named Zama-1 well.
The well had a high chance of success due to its location at Sureste Basin off state of Tabasco. The Zama-1 well was believed to hold one hundred to five hundred million barrels of crude oil, which would take ninety days to drill at a cost of sixteen million dollars. As a non-Mexican state owned company, it would be the most interesting well to be drilled and therefore will be seriously watched by the other industries.
Talos Energy was started with one hundred and twenty employees comprising of geoscientists, receptionists amongst others. For this reason, it has been named as the best small business to work in. As a private gas and oil company, whatever it does defines its worth and the rate at which it grows. It is then expected to grow and create market for labor and therefore increasing the number of employees in the company.
Tim Duncan is the President and chief executive officer of Talos Energy Company. He believes that the combination of professionals and available resources would greatly lead to a great company with success. Michael Harding on the other hand feels that the small company makes him work to his level best because he gets to interact with everyone. All employees feel that the company is great since each one has their ideas aired and analyzed together. Full participation of everyone is recommended and encouraged. This therefore creates a serene environment for the innovations as geoscientists and engineers.
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