Mexico starts revolutionary deep-sea oil project: The Trion Triumph!

Mexico starts revolutionary deep-sea oil project: The Trion Triumph!

Golf von Mexiko, Mexiko - Mexico's energy sector faces a challenging future. According to current forecasts, a decline in oil production is expected by 2030, which means impending problems for the country's economic engine. Fortunately, there are bright spots: the innovative Trion project, the first Ultra deep sea oil project in Mexico, is considered the decisive lifeline for the industry. Expro Group, a renowned energy service company with a value of £ 2.3 billion, sees this project a unique opportunity to present its technological skills and to gain a foothold in the booming deep water segment in Latin America. [Ainvest reports that the Trion project is planned about 180 kilometers off the Mexico Gulf Coast at a depth of 2,500 meters and targets the first oil production for 2028 is.

As part of the project, an impressive production volume of 100,000 barrels per day is targeted, which corresponds to 7% of the future overall production of Mexico. For the government, this project could generate over $ 10 billion in taxes and license fees-there is something for the state treasury. The technical complexity of the Trion project requires state-of-the-art engineering techniques in order to be successful.

partnerships and technologies

Expro recently concluded a three-year contract with Woodside Energy to provide Tubular Running Services (TRS) and cementing services for the Trion project. [Marine Technology News emphasizes that it is a long-term partnership in which Expro Woodsides's company in Mexico already supported during the exploration phase.]

With the opening of a new hub in the region, not only a contribution to the local economy is made, but it should also promote employment. Expro specializes in technically demanding tasks to secure its profitability. At the same time, its innovative technology shows, such as the Skyhook® system, which shortens the drilling time by up to 40%, how the market is constantly evolving and improving.

The challenges for the energy sector

The energy industry in Mexico is not without challenges. Under the government of Andrés Manuel López Obrador, the progress of the 2013 energy reform was significantly reduced. While the establishment of new capacities for renewable energies was stagnating, the market share of the state energy company CFE (Comisión Federal de Electricidad) was increased to over 50%, especially by the construction of further gas power plants. [GTAI reports that this has led to a standstill for new wind and solar projects.]

The political direction has changed noticeably: permits for new projects are no longer granted, and the urgent need to diversify and modernize the power supply is also made more difficult by savings on supervisory authorities such as the CR (Comisión Reguladora de Energía).

With a market capitalization of £ 2.3 billion and an order stock of $ 2.2 billion, it is more well positioned to benefit from the increasing deep water production in Latin America. But apart from the opportunities that the Trion project offers, there are no risks due to potential delays due to operational problems at PEMEX. It is important to keep an eye on developments, because the dynamics in the energy sector Mexico could still remain exciting.