Woodside in June approved the $7.2-billion Trion development, subject to joint venture and regulatory approval. Both of these conditions have now been met.
“This milestone allows us to fully progress into execution phase activities with our contractors,” said Woodside CEO Meg O’Neill.
“We look forward to working with PEMEX and our other stakeholders in Mexico to deliver this important project,” she said.
The project will target the development of an estimated 479-million barrels of oil equivalent of best estimate (2C) contingent resource of oil and gas, and the resource will be developed through a floating production unit (FPU) with an oil production capacity of 100 000 barrels per day. The FPU will be connected to a floating storage and offloading (FSO) vessel with a capacity of 950 000 barrels of oil.
First oil is targeted for 2028.
Woodside said on Wednesday that the project execution phase activities are progressing, and that the company had executed key contracts relating to the development, including the FPU engineering, procurement and construction contract, the rig contract, the FPU and FSO installation contract and the subsea trees contract.