On July 27, 2016, the Commissioners of Mexico’s National Hydrocarbons Commission (the CNH) held a meeting to discuss and approve the invitation to bid, the Bidding Guidelines, and the exploration and production license agreement (the License Agreement) for the selection of the partner(s) for PEMEX Exploration and Production (PEP) for the exploration and production of hydrocarbons in deep waters in the Trion field through the first farm-out to be carried out by PEP.
The Trion field is located within the Perdido area offshore the Gulf of Mexico, which crosses the border into both the United States and Mexico. It is located 39 Km from the nautical border of the United States and is near the “Great White” field. Therefore, it is expected that Trion may have similar production capabilities. Trion has a surface of 1,284 km2 (797.8 miles2), and, according to the information provided by the CNH, the field has a depth of 2,090 to 2,570 meters (6,856 to 8,431 feet). PEP has previously drilled two oil and gas wells – Trion 1 and Trion 1DL – within the Trion area and, according to the CNH, has already conducted 3D seismic studies in the entire area. According to PEP, the Trion area has certified 3P reserves of approximately 485 MMBOE.
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