The Mexican Ministry for Energy has approved the social impact assessment for the $7.2 billion deepwater Trion development in the Gulf of Mexico, Woodside Energy said Feb. 13.
Woodside, which operates the Trion project in 2,500 m water depth in the Mexican GoM, submitted the assessment in May 2023.
The approval is an important milestone in the development of the oil and gas field, Matthew Ridolfi, Woodside’s executive vice president for projects, said in a press release.
The plan “will help us to engage more effectively with local communities and better support their needs as we progress this project from construction to first oil. It also brings forward opportunities for jobs and economic development,” Ridolfi said. Trion is a greenfield development and represents the first oil production from Mexico’s deep waters.
Trion, located approximately 180 km off the Mexican coastline, is expected to reach first oil in 2028. Production will flow to a floating production semisubmersible with a capacity of 100,000 bbl/d.
Woodside reached final investment decision on the project in June 2023. Woodside operates the project with 60% interest on behalf of partner Pemex, which holds 40% interest.
Recommended Reading
Ohio Oil, Appalachia Gas Plays Ripe for Consolidation
2024-04-09 - With buyers “starved” for top-tier natural gas assets, Appalachia could become a dealmaking hotspot in the coming years. Operators, analysts and investors are also closely watching what comes out of the ground in the Ohio Utica oil fairway.
Exclusive: Rockcliff CEO on $2.7B TGNR Deal, Value of Haynesville M&A
2024-04-10 - Rockcliff Energy CEO and President Alan Smith discusses the ups and downs of executing the transaction with TG Natural Resources and what's on the Rockcliff III radar, in this Hart Energy Exclusive interview.
An Untapped Haynesville Block: Chevron Asset Attracts High Interest
2024-04-03 - Chevron’s 72,000-net-acre property in Panola County, Texas is lightly developed for the underlying Haynesville formation — and the supermajor may cut it loose.
Aethon Cuts Rigs but Wants More Western Haynesville Acreage
2024-03-31 - Private gas E&P Aethon Energy has drilled some screamers in its far western Haynesville Shale play—and the company wants to do more in the area.
The Answer to Curbing Permian Associated Gas? More M&A
2024-04-03 - Consolidation will result in less oil production, and therefore less associated gas, as fewer wells are produced, an energy analyst says.