Business · Energy & Commodities · 2 hrs ago
Trion project is 71% complete, with oil production still targeted for 2028
Woodside and Pemex say their Trion oil project is 71% complete and remains within its planned budget.
It is in ultra-deep water in the Gulf of Mexico, about 180 kilometres off the coast of Tamaulipas.
The partners still aim to start oil production in 2028, with plans for output of about 100,000 barrels a day.
Woodside owns 60% and operates the project, while state oil company Pemex owns 40%.
The floating production unit is 96% complete, 10 of 24 planned wells have been drilled, and the first subsea production tree has been installed.
Trion is a major effort to add oil production as Mexico faces declining output from mature fields and Pemex faces financial and operational pressures.
Woodside estimates the project could generate more than $10 billion in taxes and royalties for Mexico over its lifetime, but that is a projection, not guaranteed revenue.
Offshore installation work is under way, and the project must still turn its investment and expected capacity into actual production.
The Trion project was 71% complete at the end of September and remains on budget, Woodside said.
The project’s partners, Woodside and Pemex, still aim to begin oil production in 2028.
Construction of the floating production unit was 96% complete, with integration and pre-commissioning under way.
Drilling had advanced to 10 of 24 planned wells, and the first subsea production tree had been installed.
The deepwater project is about 180 kilometres off Tamaulipas and is designed to produce around 100,000 barrels of crude oil a day.
- Who
- Woodside Energy, the operator with a 60% stake, and Pemex, with a 40% stake.
- What
- The Trion deepwater oil project was 71% complete and remains on budget. The partners continue to target oil production in 2028.
- When
- Woodside reported the progress in its third-quarter report; the project was 71% complete at the end of September. Production is targeted for 2028.
- Where
- In ultra-deep waters of the Gulf of Mexico, about 180 kilometres off the coast of Tamaulipas, Mexico.
- Why
- The project is intended to add oil production in Mexico. The article says it is among the country’s main efforts to offset declining mature fields.
This story does not have two clearly opposing sides.
The project had reached 71% completion.
Woodside said the project remained on budget and that the FPU was 96% complete.
Drilling had reached 10 of 24 planned wells, the first subsea production tree had been installed, and offshore installation activities had begun.
The partners aim to begin oil production.
- Project completion
- 71% at the end of September
- Floating production unit
- 96% complete
- Planned wells
- 24 total; drilling had advanced to 10
- Ownership
- Woodside 60%; Pemex 40%
- Target production capacity
- Around 100,000 barrels of crude oil a day
- Production target
- 2028
What people are saying
The Trion Project is currently 71% complete and maintains the objective of starting oil production in 2028.
The fabrication of the FPU is well advanced, and integration and pre-commissioning activities are already under way.