Woodside, the Australian oil and gas company, has made a final investment decision to develop the Trion oil and gas resource in Mexico.
The project is expected to bring long-term value to Woodside’s shareholders and provide economic and social benefits to Mexico. The project will involve the development of a floating production unit with an oil production capacity of 100,000 barrels per day, with first oil targeted for 2028. The project will be subject to joint venture and regulatory approval, with Woodside holding a 60 percent participating interest and PEMEX holding the remaining 40 percent.
The project is expected to cost $7.2bn and is projected to have an internal rate of return greater than 16 percent. The Trion resource is estimated to contain 479 million barrels of oil and gas, with a carbon intensity of 11.8 kgCO2-e/boe, which is below the global deepwater oil average of 15 kgCO2-e/boe.
For more information visit www.woodside.com
