Australian Energy Giant Approves $10.6 Billion Oil Project Offshore Mexico

The photo shows North Rankin Complex of the North West Shelf Project owned by Woodside Energy in Western Australia on Feb. 21, 2023. Courtesy of Woodside Energy

Australia’s largest oil producer will proceed with a US$7.2 billion (AU$10.6 billion) project offshore Mexico that will deliver hundreds of millions of oil barrels in the next decade.

On June 20, Woodside Energy announced that it would invest in the Trion project, a joint venture with Mexican state-owned oil company Pemex.