Mexico eyes U.S. market for Trion project’s crude, natural gas

3/9/2017 Reuters

pemexA pipeline network with spare capacity could allow Mexico to export oil and gas from its flagship offshore Trion project to the United States, the head of Mexico’s oil regulator said on Thursday.

The deep water Trion development, with prospective reserves of almost 500 million barrels of oil, was farmed out in December by state-run Pemex [PEMEXF.UL] to Australia’s BHP Billiton, which became the operator of the $11 billion project.

The ailing Mexican oil firm, which kept a 40-percent stake, jointly shares for the first time the risks and rewards of a potentially lucrative project with a private producer.

Although a development plan has yet to be submitted, the consortium could use a cheaper and quicker option of getting production to the United States by using pipelines that serve the neighboring Great White field on the U.S. side of the Gulf of Mexico, Juan Carlos Zepeda, head of the national hydrocarbons commission (CNH), said on the sidelines of CERAWeek energy conference in Houston.

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