The social impact assessment provides a comprehensive evaluation of the offshore oil and gas project, detailing Woodside's approaches for mitigating social impacts
Mexican Ministry for Energy grants social impact assessment approval for the Trion oil and gas project. (Credit: Zachary Theodore on Unsplash)
Australian energy company Woodside Energy has secured the social impact assessment approval for the $7.2bn Trion oil and gas project in Mexican waters.
The approval granted by the Mexican Ministry for Energy will serve as a key tool in managing the project throughout the construction phase, said Woodside projects executive vice president Matthew Ridolfi.
Submitted in May 2023, the social impact assessment offers a thorough evaluation of the offshore oil and gas project and delineates Woodside’s strategies for addressing social impacts.
Ridolfi said: “This approval marks an important milestone on the pathway to developing this nationally significant resource project.
“We appreciate the ongoing support we have received from the Mexican government for Trion.
“The approval also validates Woodside’s approach to how we engage with communities wherever we work and recognises our high operating standards. It reflects the excellent work of our technical team, our consultants, and the strong professional relationships we have established with Mexico’s regulatory authorities.”
In August 2023, Woodside was given approval from Mexican regulator Comision Nacional de Hidrocarburos (CNH) for the Trion oil and gas project. Prior to this, the company in June 2023, took a final investment decision (FID) on the greenfield development in the Gulf of Mexico.
Trion marks Mexico’s inaugural oil production venture in its deepwater regions, situated at a depth of 2,500m. It is located in the Perdido Fold Belt, roughly 180km from the Mexican shoreline.
Woodside is developing the project in a joint venture with PEMEX Exploración y Producción. The former is the operator of the field with a stake of 60% while its Mexican partner holds the remaining 40% ownership.
The deepwater project aims to exploit an estimated 479 million barrels of oil equivalent (MMboe) of best estimate (2C) contingent resource of oil and gas. Its first oil is expected to be drawn in 2028.