Australia’s largest oil producer will proceed with a US$7.2 billion (AU$10.6 billion) project offshore Mexico that will deliver hundreds of millions of oil barrels in the next decade.
On June 20, Woodside Energy announced that it would invest in the Trion project, a joint venture with Mexican state-owned oil company Pemex.
The project is located at a depth of 2,500 metres, approximately 30 kilometres south of the Mexico/US maritime border, and will be among Mexico’s first deepwater developments.
Mining giant BHP acquired a 60 percent stake in the project in 2017, which subsequently became part of Woodside’s portfolio in 2022 following its acquisition of BHP’s petroleum business….