AmericasOffshore

BHP Billiton earns JV rights to Mexico’s Trion field

The local unit of Australia’s BHP Billiton on Monday won the rights to team up with Mexico’s state oil firm Pemex in a deep-water field in the Gulf of Mexico, according to AFP.

There had been much anticipation about the award for the shared operation of the Trion field, which is believed to contain up to 485 million barrels and which attracted a number of qualified international bidders.

It is the first time Mexico has farmed out the management of drilling rights and is part of the country’s bid to end Pemex’s domestic monopoly on production.

BHP Billiton takes a 60% stake in Trion with Pemex holding 40%.

Tags

Donal Scully

With 28 years experience writing and editing for newspapers in the UK and Hong Kong, Donal is now based in California from where he covers the Americas for Splash as well as ensuring the site is loaded through the Western Hemisphere timezone.
Back to top button
Close
Close