LatinNews Daily - 26 May 2023

In brief: Slim’s corporation gains access to Mexico’s Zama oilfield

* Talos Energy, the US oil and gas firm that discovered the Zama oilfield in the Gulf of Mexico, has announced that it has sold a 49.9% stake in the company’s Mexican subsidiary, Talos Mexico, to Grupo Carso, the conglomerate owned by Mexican billionaire Carlos Slim. The US$124.75m purchase, which still has to be approved by Mexican regulators, would give Grupo Carso access to the coveted offshore Zama oilfield, a project in which Talos Energy has a 17.4% stake. A Talos Energy press release stated that the purchase implies a valuation of US$250m of Talos Energy’s stake in the project, which could increase to US$262m “if certain milestones are reached”. The majority stake in the project is in the hands of Mexico’s state-owned oil company Petróleos Mexicanos (Pemex), which, after a great deal of sparring with the Talos-led consortium of investors, the government decided would operate the project after it was discovered that the Zama oil fields bled into a neighbouring reservoir which is owned by Pemex.

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