Mexico’s Trion field to produce 110,000 barrels of oil daily by 2028
afr.comMexico City | Woodside Energy Group estimates peak production from the Trion deepwater field it is developing with Mexico’s state oil company Pemex will reach 110,000 barrels per day (bpd) by 2028, Mexico’s oil regulator said on Tuesday (Wednesday AEST).
The Trion project’s total cost is estimated at $US10.43 billion ($16.1 billion), the regulator said.
The project, off Mexico’s north-east coast is 60 per cent owned by Woodside. It is expected to yield returns of more than 19 per cent, or more than 16 per cent when including $US460 million that Woodside will pay on behalf of its project partner, Mexico’s national oil company, Pemex.
Production from the project, acquired through its merger with BHP Petroleum last June, should come online in 2028.
In June, Woodside chief executive Meg O’Neill brushed off warnings from activists that the Trion deepwater project was based on risky assumptions and would lead to stranded assets.
Ms O’Neill, who in February flagged the project’s pending go-ahead, said Trion will be a strong contributor to cash flows, shareholder returns and help fund future investments, including in low-carbon energy.
Reuters
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