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Exclusive-Mexican tycoon Slim eyes two of Pemex's key fields, gaining clout in energy sector
FILE PHOTO: Mexican billionaire Carlos Slim holds a press conference in Mexico City · Reuters

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By Adriana Barrera and Stefanie Eschenbacher

MEXICO CITY (Reuters) - Mexican state energy company Pemex is in talks with Carlos Slim which could see the billionaire tycoon help bankroll two of the country's most promising crude oil and natural gas fields, sources familiar with the matter told Reuters.

The negotiations, which have not been previously reported, indicate Slim's growing clout in Mexico's struggling energy sector, expanding his business empire which already spans telecommunications, banking, insurance, retail and hospitality.

Slim, one of the world's richest people, has built close relations with the leftist government and avoided the public clashes that occasionally broke out between former President Andres Manuel Lopez Obrador and big business.

Talos Mexico, in which Slim is a majority investor, Harbour Energy, and Pemex are in advanced discussions to jointly operate Zama, a deepwater project in the Gulf of Mexico, a senior government source said.

The tycoon is also a eyeing participation in the country's most important onshore natural gas field, Ixachi, the government source and two other sources said.

While Pemex is the current operator of Zama, which has yet to start producing, the source said talks were leaning towards a joint operating agreement, meaning Pemex would cede some control - a rare model for the state company.

Pemex owns 50.43% of Zama while Talos Mexico and Harbour Energy own 17.4% and 32.2% respectively.

Pemex did not respond to a request for comment, while Grupo Carso - through which Slim owns the stake in Talos Mexico - declined to comment.

Linda Cook, the company's CEO, said last week on call with investors that there would likely be changes to the way Zama is operated, without giving details. Harbour Energy referred Reuters to Cook's comments in response to questions about the talks.

Grupo Carso would contribute the much-needed capital, the source said, adding "only minor details" still needed to be agreed. The funding would come through Talos Mexico, they added. The financial terms of the possible deal were not clear.

It comes after a long-running feud over who would operate Zama between Pemex and a private consortium of companies led by Houston-based Talos Energy.

Talos, which in 2017 discovered Zama's oil deposits in the first major discovery by a foreign company after a landmark energy reform, wanted to operate the deepwater Gulf of Mexico project, but Mexico's authorities gave Pemex the right instead.

Talos has since sold down its position in Talos Mexico, which owns the stake Zama, selling 80% to Zamajal, a company owned 90% by Grupo Carso.