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EXPLORATION AND EXTRACTION OF HYDROCARBONS IN DEEP WATERS OF THE GULF OF MEXICO IN ASSOCIATION WITH PEMEX (FARM OUT), AREA 1 (TRION).

Sector: Hydrocarbons


Last Revision

January 26, 2026
Short Name of the Project:
0495 CNH: PEMEX Association: Area 1 Trion
Type of Investment:
Greenfield
Subsector:
Upstream
Asset (s):
 Oil Field 1,285 Km2-Light oil 
Contract Currency:
US Dollars
Estimated Investment MXN:

209,688,281,832

Estimated Investment USD:

10,864,677,815

Exchange rate (USD/MXN) used by the Ministry of Finance for the economic plan 2026: $ 19.3
Contract Scope:
  Exploration,  Extraction
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DESCRIPTION
License agreement CNH-A1-TRION/2016 for hydrocarbons exploration in deep waters of the Gulf of Mexico, in a block of 1,285 km2 for light oil extraction.

Main Features:
- Geological Location: Perdido Fold Belt
- Age (s) of play: Eocene and Cretaceous
- Lithology (s): Medium to fine grain sandstone and carbonates
- Types of Hydrocarbons: Light oil and associated gas
- Prospective Resources: P90 181 million barrels of oil equivalent (mmboe) and P10 1.045 mmboe

LEGAL AND FINANCIAL STRUCTURE
Type of Project
  Public / Private
Type of Contract
  Farm out
Term
35 years
Selection Process
International Open Tender
Details
Financing Sources
Private
60 %
MXN
125,812,969,099
USD
6,518,806,689
PEMEX
40 %
MXN
83,875,312,733
USD
4,345,871,126
Payment Source
Project revenues
Revenues will come from the sale of hydrocarbons.

STATUS
Stage
  Execution
RELEVANT DATES
Request for proposals/Announcement July 28, 2016
Proposals Reception December 05, 2016
Ruling December 05, 2016
Contract Signing March 03, 2017
Execution/Construction Starting Date March 03, 2017
Term of the Contract March 03, 2052
Contractor
Woodside Petróleo Operaciones de México  
Major Contractor’s Shareholders
BHP Billiton Petroleo Holdings de México, BHP Billiton Petroleum (México Holdings)

GEOLOCATION
State(s)
Deep waters of the Gulf of Mexico   
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Entity in charge of controlling the possession of communal land, as well as providing documentary legal security derived from the application of the Agrarian Law, and is the operator of the Geospatial Information System (SIG).

SPONSOR

SUSTAINABLE INFORMATION
imagen sostentabilidad
Sustainability Datasheet

PROJECT’S SUSTAINABILITY SUMMARY

The Project is considered to have a high economic and technical impact and its main purpose is to expand the productive capacity of the Hydrocarbon Sector, one of the sectors of greatest interest in Mexico.

* This summary was prepared based on the methodological framework defined by the Inter-American Development Bank (IDB) in the document entitled: “Attributes and Framework for Sustainable Infrastructure”, which is You can check Here.

Additionally, a brief explanation of the methodology and a summary of the questions applied can be consulted in this Document.

DOCUMENTS USED:

ADDITIONAL INFORMATION
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Source
Secretaría de Energía
Description
Federal Government entity responsible for controlling, managing and regulating Mexico’s energy resources, and establishing the national energy policy.
Project Website
 Datasheet
 Results
 Signed contract
 1st Amendment agreement
 2nd Amendment agreement
 3rd Amendment agreement
 Additional information
 SIA Resolution
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Source
Secretaría de Medio Ambiente y Recursos Naturales
Description
Federal government entity and sectorial authority responsible for establishing the necessary criteria and instruments to guarantee the protection, preservation, and use of natural resources, by developing an environmental policy that ensures sustainable growth.
ID
28TM2018X0042
Permits
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Source
Concessionaire / Related Company
BHP Billiton

MULTIMEDIA

REMARKS
The license agreement for the extraction of hydrocarbons stipulates that the contractor will provide and be responsible for all technical and financial resources required for the execution of the operations and will have the right of ownership over the hydrocarbons extracted in the contractual area. The Contractor will pay a royalty, based on audited Hydrocarbons.

The State is a partner of the contractor. The contributions for the State are:
1. The contractual fee for the exploration phase
2. Consideration based on gross income before deducting costs
3. Adjustment mechanism based on production volume and prices

It is important to clarify that all the exploration risk is assumed by the operator, that is, if the assigned operator does not find economically viable hydrocarbons to be extracted, the Mexican State has no payment obligation.

There are two possible extensions in the contract term subject to the area being in regular commercial production, the first extension of 10 years and a second extension for an additional period of 5 years.
0473 Ronda 1, Licitación 3: Área 12, Mareógrafo 0462 Ronda 1, Licitación 3: Área 1, Barcodón

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