Private Companies Discover Large Oil Reserves off Mexican Coast

By: Elena Toledo - @NenaToledo - Jul 12, 2017, 2:16 pm
“This is a historic and meaningful discovery,” said Tim Duncan, President and CEO of Taloes, “and we could not be prouder of our highly qualified team from both Mexico and the United States.” (Emaze)

EspañolAn oil field has been discovered by a private company for the first time in Mexico’s history, and it’s a big one.

Sixty kilometers off the coast of Tabasco, Mexico and 166 meters below the surface, Sierra Oil and Gas, Talos Energy and Premier Oil discovered a deposit of oil — a resource that has been controlled by the state for the last 80 years.

Initial estimates claim the deposit will yield between 1.4 and two billion barrels of crude oil, leading officials close to the discovery to deem it a “mega-find” not seen in the country since a 2000 discovery in the Gulf of Mexico. It’s the fifth-largest discovery worldwide in the last five years, according to experts.

The finding far surpasses initial expectations made by researchers, as it is double the size of Trion and three times the size of Ayin, where Petróleos Mexicanos (Pemex) currently operates.

“This is a historic and meaningful discovery,” said Tim Duncan, President and CEO of Taloes, “and we could not be prouder of our highly qualified team from both Mexico and the United States.”

He added: “We believe that this discovery represents exactly the objectives of energy reform: new capital, new participants and a spirit of ingenuity that will generate new local jobs and income for the Mexican government.”

Taloes Energy representatives also said that it is installing a “liner” to protect the discovery before starting deeper exploration. It is still very early to talk about starting an actual operation, officials said.

“There are no plans for immediate tests in the well,” Duncan said. “We will need an additional assessment to calibrate the well with existing reprocessed seismic information to determine future plans and the following locations that will define the extent of the discovered resources.”

Duncan also said that he expects to have more opportunities like this in the future.

“We are excited to move forward with the evaluation of this discovery and continue to drill more unique opportunities like this. We see a bright future for shallow Mexican waters in the coming years.”

Source: El Economista.

Elena Toledo Elena Toledo

Educator by trade, social-media apprentice, activist for a democratic Honduras, and free thinker. Follow her on Twitter @NenaToledo.

US Replaces Key Obama Appointee as Head of Embassy in Cuba

By: Karina Martín - Jul 12, 2017, 12:05 pm

EspañolThe United States Embassy in Cuba has announced long-time diplomat Scott Hamilton as the new interim Chargé d'affaires in Havana, replacing Jeffrey DeLaurentis. "The departure (of DeLaurentis) is part of the normal cycle of rotation of diplomats," a spokesman for the Embassy in Havana said. The change comes one month after President Donald Trump announced he would be reversing Obama-era policies that opened relations with Cuba. Trump's administration said the island must be help to a higher standard of human rights before economic negotiations can proceed. DeLaurentis held the position for three years, helping with key negotiations between Obama's administration and Raúl Castro's regime. Hamilton, meanwhile, served as a diplomat in Gaborone, Botswana between 2009 and 2012 before holding senior positions at the State Department. Additionally, Hamilton worked in diplomatic offices in countries such as Ecuador, Colombia, South Africa and Russia. He also served as political adviser to the Permanent US Representative to the Organization of American States between 1997 and 1999. googletag.cmd.push(function() { googletag.display('div-gpt-ad-1459522593195-0'); });   Read More: Cuban Regime Takes Swipe at OAS Following Helicopter “Coup Attempt” in Venezuela Read More: Trump’s Cuba Rollback is Paving the Way for Age of “Principled Realism” in Foreign Policy In a press release, the island website Cuba Posible thanked DeLaurentis for his help in opening relations between the two nations. "US ambassador Jeffrey DeLaurentis, along with his team, has been particularly important in Havana, focusing their efforts within a context of respect for Cuban sovereignty," it said. "We thank the ambassador and his team for the work done to help build the new paths promised by Presidents Raúl Castro and Barack Obama." Sources: Cubanet; Voa Noticias; Cibercuba.

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