LatinNews Daily - 30 August 2023

In brief: Mexico’s Pemex announces plan for Trión oil field

* Mexico’s state-run oil company Pemex has announced that it is working with Australian oil company Woodside Energy to develop the Trión deep water offshore field in the Gulf of Mexico. This comes after Mexico’s energy sector regulator Comisión Nacional de Hidrocarburos (CNH) approved the development plan for the Trión field. According to Pemex, which holds a 40% stake in the project as a non-operating partner, the project aims to exploit proven and probable (2P) reserves of 478.7m barrels of crude oil equivalent, requiring an investment of US$7.2bn. According to the development plan, hydrocarbon production is expected to begin in 2028.

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