Woodside Appoints Stephane Drouaud as Mexico Managing Director as Trion Project Advances
Woodside Energy has announced that Stephane Drouaud, currently Vice President of the Trion Project, will relocate to Mexico City and assume the additional role of Managing Director of Woodside in Mexico. The appointment strengthens the company’s leadership presence in the country as it advances development of the Trion offshore oil project, which is targeting first production in 2028.
In his expanded role, Drouaud will lead Woodside’s growing operations and business presence in Mexico while continuing to oversee his existing responsibilities for the Trion Project. His relocation comes at a significant stage in the project’s development, as Woodside consolidates project execution activities in Mexico and progresses with drilling operations and subsea equipment installation campaigns.
The appointment reflects Woodside’s focus on strengthening local leadership and supporting the delivery of one of Mexico’s most significant offshore energy developments. As construction and installation activities advance, having senior project leadership based in Mexico City is expected to support coordination with local stakeholders, government authorities, and project partners.
Strengthening Woodside’s Presence in Mexico
Woodside’s decision to expand Drouaud’s responsibilities comes as the company deepens its engagement with Mexico’s energy industry. The country represents an important market for the company’s offshore development activities, particularly through the Trion Project, which is being developed in partnership with Petróleos Mexicanos (PEMEX), Mexico’s state-owned oil company.
The company is working to establish a stronger operational presence in Mexico as the project moves through its development and execution phases. Centralising project execution activities in the country is intended to reinforce local coordination while supporting the complex technical requirements associated with ultra-deepwater oil production.
Drouaud’s appointment also comes amid broader discussions between Woodside and the Mexican government about potential opportunities in the country’s offshore hydrocarbon sector. These discussions highlight the importance of collaboration between international energy companies and national oil organisations in developing technically challenging offshore resources.
Woodside and Mexico Explore Future Energy Opportunities
In September 2026, Woodside Chief Executive Officer Liz Westcott met with Mexican President Claudia Sheinbaum in Mexico City. During the meeting, Woodside and PEMEX signed a Memorandum of Understanding to facilitate analysis of potential future opportunities for hydrocarbon exploration and extraction in the deep waters of the Gulf of Mexico.
The agreement establishes a framework for the parties to examine possible areas of cooperation in offshore oil and gas development. It also provides for the mutual exchange of technical knowledge, professional experience, and industry best practices across the petroleum sector.
Such cooperation could support the assessment of technically complex offshore opportunities by drawing on the expertise and operational experience of both organisations. Deepwater exploration and production require specialised engineering capabilities, advanced subsea systems, and detailed planning to manage the challenges associated with operating in deep marine environments.
The meeting with President Sheinbaum also provided an opportunity for Woodside to present an update on the Trion Project and discuss potential avenues for further collaboration. The discussions reinforced the company’s stated long-term commitment to Mexico’s energy sector and its intention to continue working with local partners as the development progresses.
Although the memorandum creates a basis for evaluating future opportunities, any additional exploration or extraction activities would depend on further technical assessments, commercial considerations, and applicable regulatory requirements.
Trion Project Advances Toward First Oil in 2028
The Trion Project is a joint development between Woodside and PEMEX located approximately 180 kilometres off Mexico’s coastline and around 30 kilometres south of the maritime border between Mexico and the United States.
The field lies in approximately 2,500 metres of water, making it an ultra-deepwater development that requires advanced offshore infrastructure and specialised production technology. Once operational, Trion is expected to become Mexico’s first ultra-deepwater oil development, marking a significant milestone for the country’s offshore petroleum industry.
Woodside is targeting first oil from the project in 2028. The development is intended to bring deepwater production capacity into Mexico’s energy sector while creating opportunities across the offshore engineering, equipment, installation, and operations supply chain.
As of June 30, 2026, the Trion Project was 64% complete. The reported progress reflects the project’s movement through its development and construction programme as drilling and subsea equipment installation campaigns continue.
With execution activities increasingly concentrated in Mexico, coordination among engineering teams, contractors, suppliers, and project partners remains important. Ultra-deepwater developments involve interconnected offshore systems that must be designed, installed, tested, and commissioned to meet demanding operational and safety requirements.
The project’s targeted 2028 production start will depend on the successful completion of the remaining development activities, including the delivery and integration of essential offshore infrastructure.
Major Investment and Economic Contribution
Trion represents a forecast total capital investment of approximately US$7.2 billion, placing it among the major energy development investments associated with Mexico’s offshore oil sector.
The project is also expected to generate substantial fiscal benefits for the country over its operating life. According to Woodside, Trion could contribute more than US$10 billion in taxes and royalties to Mexico throughout the life of the development.
These projected government revenues highlight the potential economic significance of bringing the field into production. In addition to fiscal contributions, the development is expected to support Mexico’s energy security by adding a new source of domestic offshore oil production.
Large-scale offshore projects can also generate demand for specialised technical services, engineering capabilities, marine logistics, equipment supply, and long-term operational support. The extent of these opportunities will depend on project execution requirements, procurement arrangements, and the participation of qualified suppliers and service providers.
For Mexico, the project represents an opportunity to develop experience in ultra-deepwater production while working with an international operator that has expertise in complex offshore energy developments.
Woodside and PEMEX Share Project Ownership
Woodside holds a 60% participating interest in Trion and serves as the project’s operator. PEMEX owns the remaining 40% participating interest, establishing a partnership between the Australian energy company and Mexico’s national oil organisation.
Under this arrangement, Woodside is responsible for operating the development in collaboration with PEMEX, with both companies participating in the project according to their respective interests.
The partnership is central to the development’s progress and provides a framework for combining technical capabilities and resources in a challenging offshore environment.
Drouaud’s expanded leadership role comes as the companies continue working toward the project’s targeted first oil date. His presence in Mexico City is intended to strengthen Woodside’s local leadership while supporting the ongoing execution of Trion and engagement with Mexican stakeholders.
With the project 64% complete at the end of June 2026, a forecast capital investment of US$7.2 billion, and first production targeted for 2028, Trion remains a major component of Woodside’s activities in Mexico.
The appointment, combined with the memorandum signed by Woodside and PEMEX, underscores the company’s continued focus on advancing its existing offshore development and assessing potential opportunities for future cooperation in the Gulf of Mexico. Together, these activities position Woodside to expand its operational presence in Mexico as Trion moves toward production and the country’s ultra-deepwater oil sector continues to develop.
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