Latin America's wealthiest individual, Carlos Slim, is further expanding his energy portfolio through his Mexican conglomerate, Grupo Carso SAB. The company has entered into a binding agreement with French energy giant Total SA (TTE.US) to acquire a 30% interest in the Block 30 offshore oil field located in the Gulf of Mexico, according to a filing with the Mexican Stock Exchange. The transaction is pending regulatory approval from the Mexican government.

Upon completion, UK-based driller Harbour Energy Plc will remain the project operator and retain the remaining 70% interest in the block. Carso will execute the acquisition through its 80%-owned subsidiary, MX Dlta Nrg 1, which operates under the Zamajal umbrella.

Details of the Block 30 Asset

The Block 30 asset is situated in the shallow waters of Mexico's Istmo Salina Basin, approximately 29 kilometers off the country's southern coast. The block covers an area of about 30.5 square kilometers, with water depths of only 40 to 50 meters and well depths ranging from 3,300 to 3,750 meters.

The core asset within the block is the Kan oil field. Harbour Energy estimates the field holds approximately 500 million barrels of oil equivalent in resources, with recoverable resources estimated at around 150 million barrels. Kan is a light oil field originally awarded under a 25-year production-sharing contract established by Mexico's energy reform framework in 2018.

While a binding agreement is in place, the finalization of the deal is contingent on receiving all necessary governmental and regulatory approvals. The specific financial terms of the acquisition were not disclosed by Carso.

Slim's Strategic Moves in the Oil Sector

This latest acquisition represents a continuation of Slim's ongoing expansion within Mexico's oil and gas sector, forming a key part of his broader investment strategy planned through 2026.

His expansion path is evident through several recent transactions. In May 2023, Carso acquired a 49.9% stake in Talos Energy's Mexican subsidiary for $124.75 million, indirectly securing a 17.4% interest in the Zama field, later increasing its stake to 80%.

In September 2025, Carso signed a $1.99 billion contract with Mexico's state-owned Pemex to drill 32 wells at the Ixachi oil and gas field, aiming to boost its production to roughly 200,000 barrels per day within three years.

In January 2026, Carso acquired Lukoil's Fieldwood Mexico for $270 million in cash, assuming $330 million in debt, giving it full ownership of the Ichalkil and Pokoch offshore fields in a deal valued at approximately $600 million. This was followed in March 2026 by the completion of Carso's acquisition of a 30.1% stake in Talos Energy Mexico.

Slim also holds a stake in US refiner PBF Energy Inc. He previously noted that Carso's oil exploration and production activities, concentrated in its Carso Energy and Zamajal subsidiaries, contributed about 8% to the group's consolidated revenue in the first quarter of 2026.

Strategic Positioning and Outlook

It is noteworthy that despite being Pemex's largest private partner, Slim stated in May that he would not pursue new joint ventures with the state company, describing its Lakach deepwater gas project as "irrational" and terminating cooperation on it.

However, earlier this month, Slim expressed strong optimism about Mexico's oil prospects. He predicted that with private capital investment, the country's oil output could rebound to between 2 and 2.5 million barrels per day in the coming years. Pemex's crude and condensate production stood at 1.65 million barrels per day as of the end of April.

Slim specifically highlighted potential positive outcomes from the partnership with Woodside Energy on the Trion field and a technical sharing agreement between Pemex and Petrobras.

The acquisition of the Block 30 stake from Total continues Slim's strategy of acquiring assets from international oil companies as they divest. As European energy majors like Total and Shell adjust their global portfolios, the shallow waters of the Gulf of Mexico are becoming an increasingly significant piece of Slim's energy puzzle.

For Carso, the Kan field in Block 30 creates regional synergies with its previously acquired assets at Ichalkil, Pokoch, and Zama, further consolidating its asset density in the Gulf's shallow waters. If Slim's early-July prediction of a significant production rebound materializes, his oil empire could see a systemic revaluation.

Slim's oil asset portfolio is forming an integrated chain encompassing upstream exploration and production (Zama, Ichalkil, Pokoch, KAN), infrastructure development (the Ixachi drilling contract), and engineering service capabilities. This structure positions Carso as one of Mexico's largest private oil operators alongside Pemex.

According to the Bloomberg Billionaires Index, the 86-year-old Slim has a fortune of approximately $130 billion, primarily derived from telecom giant América Móvil. While international oil majors like Total are divesting traditional oil and gas assets under global energy transition pressures, Slim is aggressively acquiring them in a counter-cyclical move. From Ichalkil and Pokoch to Zama and now KAN, the Mexican telecom magnate is building a private oil empire in the shallow Gulf waters that rivals Pemex. The Block 30 acquisition is merely the latest move in this grand strategic game.