Mexico’s upstream regulator Comisión Nacional de Hidrocarburos (CNH) has approved the development plan for the Trion ultra-deepwater oil and gas project planned by Australia’s Woodside Energy Group Ltd. and Mexican state oil company Petróleos Mexicanos (Pemex) in the Gulf of Mexico (GOM).


The plan calls for capital expenditures of $7.2 billion, with first oil targeted in 2028. Trion is expected to produce 110,000 b/d of oil and 101 MMcf/d of natural gas at its peak. 

Woodside is the operator of Trion with a 60% participating interest, while Pemex holds a 40% non-operated stake. Development is expected to include an initial phase with 18 wells (nine producers, seven water injectors and two gas injectors), Woodside said. The companies plan to drill 24 wells over the life of...