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
9 April 2026
The April 2026 issue of Petroleum Economist is out now!
9 April 2026
Offshore operators are working through an FID backlog as the rig market consolidates, helped by improving project economics and a renewed security drive
2 April 2026
Alongside a rapid continued build-out of renewables, China’s latest five-year plan stresses the value of domestic hydrocarbon production for energy security and calls for increased Russian gas imports
2 April 2026
The government is taking important steps to revive domestic production, lift investment and benefit from the geopolitical crisis even if more needs to be done in the longer term
