Advances Being Made By Talos Energy

After 80 years, the Mexico oil reform industry has seen some major advances. This is in the form of its first private well which is being operated by a foreign company. This is being considered as a major step as it shows the commitment of the government in allowing foreign competitors back into the energy industry.

This private well is the result of a joint venture between the Premier Oil PLC which is based in London, Talos Energy LLC based in Houston, and Sierra Oil & Gas which belongs to Mexico. The drilling of the well had started on May 21. This is the first time that someone other than Petroleos Mexicanos is doing the digging as this state-run monopoly was doing so since 1938. This was when the country had nationalized oil industry.

This is the Zama-1 well. It is based in the Sureste Basin which is just off the state of Tabasco. The estimates say that it has 100 to 500 million barrels of crude oil. Drilling should get completed in the next 90 days. The digging will be costing the Premier nearly $16 million.

These three companies had won the rights to this prospect in 2015. This was during the first round of bidding which took place once Mexico decided to open its oil industry to foreign investment. This was meant to give a boost to the ailing oil industry of Mexico.

Since this is the first well to be drilled by a private player since the Mexican waters opened as a part of the energy reform process, it is being keenly watched by all in the industry. Even the structure of this basin indicates that this project has very high chance of success.

Due to these implications for the market, Zama has become an interesting exploration well that is being drilled this year.

Talos Energy remains the most important operator of this well. They own a 35% stake in this venture. Nearly 40% is being held by Sierra and Premier holds 25% stake in it.

Hence, a lot is at stake here for all.

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Jose Auriemo Neto has been the Chief Executive Officer and the president of JHSF Company from 2003. He started working for the company in the year 1993 where he worked in the department of service to the firm. Jose Auriemo Neto formed the management company which controlled parking in the year 1997. Jose has been the chief executive officer of the company from the year 2006 to 2014. In the year 2009, Jose Auriemo Neto was promoted to be a member of the Executive Board of the JHSF. In the year 1998, Jose Auriemo got the mandate to establish the JHSF shopping center. JHSF became the beginning of his success in the world of business in Brazil.

JHSF operates in other sectors aside from investment. These areas are real estate development, hotels, gastronomy and shopping malls. The company does not only work in Brazil, but it also operates in Uruguay and the United States. The industry came into being in the year 1972. JHSF is the first company that prioritized the recurrent assets as income in Brazil. These intermittent assets are airports, hotels and shopping malls. JHSF came into being through two brothers in Sao Paulo, Brazil. The first task of the company after its formation was to bring out initial investment capabilities and create improved income solutions. This firm is the leading company in real estate and has the most significant income gain in Brazil.

Jose Auriemo Neto is 38 years old, and he is commonly known as Zeco. The responsibility of Jose Auriemo Neto in JHSF is based on the growth of residential and commercial housing in Brazil. He also leads the company’s retail portfolios which are: Metro Tucuruv and Bela Vista. In the year JHSF got into a partnership with Valentino Company and launched R.E.D Valentino stores.

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