Talos and its partners submit Zama UDP in Mexico

Talos Energy Inc. (Talos) and the other Zama Unit Holders Wintershall Dea, Harbour Energy plc (Harbour), and Petróleos Mexicanos (Pemex), have announced that Pemex, as the operator, submitted the Zama Unit Development Plan (UDP) to Mexico’s National Commission of Hydrocarbons (CNH) for formal approval. An Integrated Project Team (IPT) comprised of individuals from all four Zama Unit Holders has been established to manage the development and operation of Zama going forward.

The Zama UDP envisages two offshore fixed platforms, 46 dry-tree wells, and oil and gas transportation to new facilities in Terminal Maritima Dos Bocas. The Zama Unit Holders have also finalized agreements for oil and gas marketing and facilities use based on globally recognized market indices and terms consistent with international best practices. Front-End Engineering and Design (FEED) work is expected to continue while awaiting UDP approval from CNH, expected within the next six months, allowing for a subsequent Final Investment Decision (FID) to be made after all regulatory approvals are obtained.

The Zama Unit Holders have formed an IPT to manage project delivery and operations during the construction phase. The IPT is designed to provide technical, operational, and execution expertise, leveraging the talents of each of the Zama Unit Holders. The IPT will report to the Zama Unit Operating Committee, which includes representatives from each of the companies. Talos, together with Pemex, Wintershall Dea, and Harbour, will co-lead different work groups within the IPT. Talos and Pemex will co-lead the planning, drilling, construction, and completion of all Zama wells and co-lead the planning, execution, and delivery of Zama’s offshore infrastructure. Talos, Pemex, and Wintershall Dea will co-lead the project management office.

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