U.S. oil and gas company Talos Energy has got the green light for $380 million drilling projects.
The projects could lead to significant new streams of production. The Talos Energy-led consortium will drill at least one new well in January as part of its Area 7 contract, next to its Zama discovery announced last year.
The consortium, which also includes Britain’s Premier Oil and Mexico’s Sierra Oil & Gas, will invest some $251 million in 2019 in the block and included a second contingent well in its drilling plans.
U.S. engineering, procurement, construction and installation company McDermott International said that it was awarded a contract by Talos for design work and engineering services for the Zama project.