BHP Billiton, Pemex sign Trion Contract

Pedro Joaquín Coldwell, Mexican Minister of Energy,  Enrique Peña Nieto, President of Mexico, Andrew Mackenzie, BHP Billiton CEO and José Antonio González Anaya, CEO of PEMEX. Photo: BHP Billiton

By Aiswarya Lakshmi

BHP Billiton has advanced its exploration and
production interests in the Gulf of Mexico by executing a
contract with PEMEX Exploration & Production Mexico (Pemex)
to complete work on the significant Trion discovery in
Mexico.

In December 2016, BHP Billiton successfully bid on the resource
that, once fully appraised, is expected to be in the top 10
fields discovered in the Gulf of Mexico in the last decade.

The agreement includes a commitment to deliver a Minimum Work
Program, which consists of drilling one appraisal well, one
exploration well and the acquisition of additional seismic data.

The signing ceremony today was attended by President of Mexico,
Enrique Peña Nieto, BHP Billiton CEO, Andrew Mackenzie, and
Director General Pemex, José Antonio González Anaya, and was held
at the Official Residence of the President in Mexico City.

BHP Billiton CEO, Andrew Mackenzie, said the partnership was an
historic moment for Mexico and the beginning of a new chapter in
business relations between BHP Billiton and Pemex.

"It is an honour to be the first foreign company to partner with
the people of Mexico in developing their significant petroleum
resources for mutual benefit," Mr Mackenzie said.

President of Mexico Enrique Peña Nieto thanked BHP Billiton for
believing and trusting in Mexico.

"I want to thank BHP Billiton for being Mexico's partner in this
journey that, I am certain, will yield greater development for
our country," Mr. Peña Nieto added.

Steve Pastor, BHP Billiton President Operations Petroleum, said
the Trion agreement was consistent with the Company's focused
approach to conventional oil exploration and development of high
quality deepwater oil prospects.

''We have a long history as a top operator in the Gulf of Mexico
and we are excited to bring our operational expertise to the
partnership with Pemex," Mr Pastor said.

Speaking on the agreement, PEMEX CEO José Antonio González Anaya
said, "This agreement constitutes a parting of the waters in the
history of PEMEX. For the first time, an area assigned during the
Round Zero auction, will be progressed in partnership with a
world leading company."

Mar 5, 2017

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