Mexican government designated Zama as 'strategic project'
Optimism grows around Mexican upstream
Things are looking up for exploration and production in Mexico, with new finds and developments set to boost output in coming years
Recent announcements, deals and discoveries have greatly bolstered Mexico’s upstream and may help it continue to reverse declining production and ease NOC Pemex’s huge debt burden. ASX-listed Woodside has taken FID on Trion. The once-stalled Zama project is moving forward, following other offshore discoveries so far this year. And Pemex is already reporting rising crude output—all of which suggest the country’s upstream might be turning a corner. Woodside is targeting first oil from Trion in 2028. The Australian firm expects to receive regulatory approval for its field development plan in the fourth quarter of this year and describes Trion as comprising a “deepwater… large, high-quality conv
Also in this section
20 March 2026
Attacks on key oil and LNG assets across the Gulf mean a prolonged supply disruption, with damage to Qatar’s export capacity undermining confidence in the global gas system
20 March 2026
The US may be systemically stripping Russia of key geopolitical allies, but Moscow can reap rewards from the Hormuz crisis, both in the short and long term
20 March 2026
Disruptions to Qatari LNG exports have highlighted the risks of concentrated supply, potentially strengthening the long-term position of US exporters despite limited near-term flexibility
20 March 2026
The extent of the US-Israel war with Iran means there will be no going back to the previous market equilibrium no matter how the conflict ends
