Areas: Mexico Grupo Is Taking Over Part of an Oilfield in the Gulf of Mexico
Reporting on 25 May 2023 has suggested that Grupo Mexico — a very influential company in Mexico — has called on its subsidiary, Grupo Carso, to purchase a stake in Talos Energy’s offshore oil discovery project in Zama.
Talos Energy discovered offshore oil deposits at Zama in 2017, but was later taken over by Mexican regulators whereby state-owned Pemex sought control of the operations in the Gulf of Mexico. Reuters
Grupo Mexico has already been in the news recently, since the company lost part of its railway operations to the Mexican government on 19 May 2023. This move is part of a larger trend by Mexico’s president Lopez Obrador to seize the country’s key assets — primarily in the natural resource sector — for the purpose of national security and defense.
The offshore oil discovery, and subsequent development of the operations at the oilfield, were deemed to be strategic assets of Mexico by Pemex and regulators in March 2023, while the issues of operating were carried out in a legal dispute between Talos Energy and Mexico’s Ministry of Energy in July 2021. Talos lost the case, and with it the full operational control over the offshore oilfield project.
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