They will invest 7,200 million dollars in the Trion oil field between Tamaulipas and Texas

Between the maritime borders of Tamaulipas, Mexico, and Texas, United States , a new project related to the oil industry will be developed, for a historic amount of 7.2 billion dollars, through the Australian company Woodside , in agreement with Petróleos Mexicanos (Pemex) and whose first production is scheduled for 2028.

This is the Trion deposit, located at a depth of 2,500 meters within the Lost Fold Belt (CPP), 180 kilometers from the Mexican coast and 30 kilometers from the maritime border between the two nations.

Production plans include 100,000 barrels per day, with a floating storage and offloading vessel (FSO), of up to 950,000 oil containers. 

The Woodside  company explained that the investment will focus on several phases and that to start it is necessary to obtain permits, such as the regulatory development plan and the endorsement of the alliance, with times scheduled for the third quarter of 2023. 

Once the documents are obtained, it will seek to develop a floating production unit (FPU) and the FSO infrastructure , as well as 24 drilled wells: 18 in a first phase, of which nine will be producers, seven water injectors and two gas. 

“We are developing Trion because we believe it will bring value to Woodside shareholders and benefits for Mexico, including job creation, tax revenue and social benefits; We value our relationship with Pemex and the support of the Mexican government and the country's regulatory bodies," said Meg O'Neill, CEO of Woodside .

The investment of 7,200 million dollars  is made up of 60% of the Woodside  company as operator and Pemex  in 40% as part of exploration and production.

“The investment is aligned with Woodside's strategy, exceeds Woodside's capital allocation framework targets, and will greatly contribute to Woodside's cash flows, shareholder returns, and funding of future oil developments. , gas and new energies”, added the CEO. 

The company indicated that all the gas that will not be reinjected or used in the FPU will be transported to the Mexican market and that the execution times of the project are focused on the first production of barrels of oil by 2028.

From its operation, it will seek to exploit the majority of resources in the subsequent 10 years.