Woodside Energy Group Ltd. (WDS) began drilling at the Trion Field in the Gulf of Mexico on March 9, 2026, marking the first phase of a deep‑water development that will produce 24 subsea wells for a floating production unit (FPU) named Tláloc, which has a nameplate capacity of approximately 100,000 barrels per day.
The Trion Field sits in about 2,500 meters of water and was discovered by PEMEX in 2012. Woodside holds a 60 % operating interest while PEMEX holds 40 %. The final investment decision was made in 2023, and the project’s total capex is forecast at USD 7.2 billion. The drilling program is being executed by Transocean’s drillship Deepwater Thalassa, which arrived in Mexican waters on March 5, 2026. Production will be transferred to a floating storage and offloading (FSO) facility called Chalchi, which can hold 950,000 barrels.
The Trion development is expected to generate more than $10 billion in taxes and royalties for Mexico over its life, creating jobs and boosting local supply chains. The project’s economic contribution is a key element of Mexico’s strategy to expand its deep‑water production and to build domestic expertise in ultra‑deepwater operations.
Woodside’s launch of the Trion project aligns with its long‑term goal of becoming a global LNG and gas supermajor. The development complements the company’s existing Australian and Senegal operations and represents a significant expansion of its international portfolio. The milestone signals progress toward Woodside’s growth plan and reinforces its partnership with PEMEX.
"The start of the drilling program represents a milestone for the Trion Project and for Mexico’s deep‑water oil and gas sector. It underscores the strength of our collaboration with PEMEX and our shared commitment to delivering this world‑class project safely and efficiently. Trion is more than a significant resource – it is an opportunity to enhance Mexico’s energy security, build local capability and generate enduring economic value for the country," said Woodside Acting CEO Liz Westcott. "The progress we are seeing at Trion reflects the dedication and expertise of our project team and partners who have worked tirelessly to advance this development. From engineering and planning through to drilling execution, the team is safely and systematically moving the project forward," added Woodside Vice President for Trion Stephane Drouaud.
The market has reacted positively to the announcement, driven by a surge in global energy prices amid geopolitical tensions in the Middle East and Woodside’s strong operational performance, including record production and a consistent dividend policy. The Trion development adds a long‑term growth narrative that investors view favorably, reinforcing confidence in Woodside’s execution and strategic direction.
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