Australia's top oil and gas company Woodside Energy has awarded a contract to Subsea 7 for subsea installation services for the Trion development offshore Mexico.
Subsea 7 described the contract as large, which means its value ranges between $300 million and $500 million.
The scope of contract for Subsea 7 includes engineering, construction, and installation of the subsea umbilicals, risers, and flowlines, as well as the associated subsea architecture.
The project, which Woodside and Pemex are developing in partnership, involves a wet tree subsea system connected to an infield floating production unit (FPU).
The field is located approximately 30 kilometers south of the U.S. / Mexico border and 180 kilometers away from the Mexican coastline, at a water depth of 2,600 meters.
Subsea 7 will start management and engineering for the project immediately from its offices in the U.S. and Mexico, with offshore activities expected to take place between 2026 and 2027.
“This award acknowledges our strong partnership with Woodside globally. With our experience in the Gulf of Mexico and proven track record, we can deliver innovative, reliable, fast-tracked solutions that create value for our clients. We are proud to be a part of Woodside and Pemex’s first deepwater development in Mexico,” said Craig Broussard, Vice President for Subsea 7 Gulf of Mexico.
Woodside made final investment decision (FID) for Trion project in June 2023. Woodside is the operator with a 60% participating interest and PEMEX holds the remaining 40%.
Trion field will be developed through a floating production unit (FPU) with an oil production capacity of 100,000 barrels per day.
The FPU, to be built by South Korea’s HD Hyundai Heavy Industries, will be connected to a floating storage and offloading (FSO) vessel with a capacity of 950,000 barrels of oil.
The first oil is targeted for 2028.