Oil has been struck

Oil has said to of been struck right off the coast of Mexico by a private companies first exploration well. They was later able to announce that about 37 miles from Puerto Dos Bocas that they had made a significant oil discovery. The well is said to of been able to of reached 11,000 feet. That means that it is estimated that there is atleast 1.4 billion barrels of oil said to be in the well. The discovery that has been made by Talos is said to be one of the best achievements so far by Mexicos Energy Reform.

There has recently been news about more oil being discovered in the Gulf of Mexico. The new discovery could indeed produce up to 2bn barrels of oil. Talos Energy, a US company, and Sierra Oil & Gas, a mexican firm, were the 2 companies that came across the discovery. The discovery was described by Talos as being historic and sigificant. Two years after the Mexican government had opened up the countrys oil sector for only private bidders for amazeingly the first time in 80 years, is when the discovery was made.

Another huge oil discovery was said to of been made right off the coast of Mexico. This discovery brought in nearly 2 billion barrels of oil and was made in shallow waters. Analysts and company executives have both said that this discovery will hopefully bring more interest in the drilling South of the U.S boarder. Pablo Medina has said that Zama comes in as being one of the 15 or 20 largest shallow-water discoveries made in the past 20 years. They are hoping to be able to continue making new discoveries and know in time that they will. As long as they keep going like they are there is no telling where they will end up.

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