Upon acquiring a stake in the Zama oil deposit in the Gulf of Mexico last year, Carlos Slim, Mexico’s wealthiest individual, has now expressed his intention to increase his company’s involvement in Talos Energy’s (NYSE:TALO) projects. This significant move, reported by Reuters on Monday, signals a potential expansion of Slim’s interests in the lucrative oil sector.

According to the report, the decision to raise his stake in Talos (TALO) hinges on various conditions, with Slim refraining from divulging further details at this stage.

Talos (TALO) made headlines in recent years with the discovery of the Zama oil deposit, later ceding operational rights to state oil company Pemex. However, in a bold transaction last year, Grupo Carso, controlled by the Slim family, sealed a $125M deal with Talos, acquiring 49.9% of its Talos Mexico subsidiary.

Pemex currently operates Zama and holds the largest stake at 50.4%, followed by Grupo Carso with 17.4%. European entities Wintershall Dea and Harbour Energy also stand as partners in this venture.