Mexico City — US Oil company Talos Energy has completed the sale of a 49.9% stake in its subsidiary Talos Mexico to Zamajal, a subsidiary of Grupo Carso, the conglomerate controlled by the family of Mexican billionaire Carlos Slim Helú.
Talos received $74.8 million in cash at the close of the transaction, with $49.9 million due upon first oil production for an aggregate price of $124.7 million, the US oil company said in a statement.
Talos Mexico holds a 17.4% interest in the Zama offshore field that it shares with Mexico’s state-owned oil company Pemex, and which will operate the field after years of dispute with the US company directed by Timothy Duncan.
The stake sale had been announced in May 2023.
Pemex and the private consortium headed by Talos will spend $9 billion on the development of the Zama field, which will begin production during 2025 and is expected to reach its peak production of 180,000 barrels of oil per day in 2029.