SBM Offshore has been awarded a contract by Woodside Energy to construct and lease a floating storage and offloading (FSO) unit for the Trion oil project, located in Mexican waters.
The contract was signed by SBM Offshore and Woodside’s subsidiary Woodside Petróleo Operaciones de México.
The Trion oil field is situated in the Perdido Belt within the western Gulf of Mexico.
The development of this deepwater oil field, with an estimated capital expenditure of $7.2bn, is set to target approximately 479 million barrels of oil equivalent (MMboe) in contingent resources.
Under the terms of the contract, SBM Offshore will lease the new FSO unit for a duration of 20 years. This latest contract builds upon the earlier transportation and installation agreement awarded to SBM Offshore in 2023, covering both the FSO and the floating production unit (FPU).
The FSO, designed with a Suezmax-type hull, will feature a Disconnectable Turret Mooring (DTM) system developed by SBM Offshore. It will be anchored in waters approximately 2,500m deep and will possess a storage capacity of around 950,000 barrels of crude oil.
The Trion field is positioned 180km off the Mexican coast and 30km south of the US-Mexico maritime border.
The Trion oil project is a joint venture between Woodside, which holds a 60% operating interest, and PEMEX Exploración y Producción, which owns the remaining 40%. BHP Petroleum, which acquired a stake in the project in 2017, merged with Woodside in 2022 through a multi-billion dollar transaction.
The initial phase of the Trion project will see the drilling of 18 wells, including nine producers, seven water injectors, and two gas injectors.
Over the project’s lifespan, a total of 24 wells will be drilled.
Production from the Trion field is projected to commence in 2028, with the FPU designed to handle an oil production capacity of 100,000 barrels per day. The FPU will be linked to the FSO vessel, which will have a storage capacity of 950,000 barrels of oil.
Earlier this year, Subsea7 was awarded a contract for subsea installation services related to the Trion project. Subsea7’s role encompasses the engineering, construction, and installation of subsea umbilicals, risers, and flowlines, as well as the associated subsea infrastructure.
