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Home›Fossil Energy›$10.4B oil project nears offshore installation as key equipment reaches Mexico
Fossil Energy

August 21, 2026 · about 1 month ago

$10.4B oil project nears offshore installation as key equipment reaches Mexico

Netherlands-based SBM Offshore, a provider of the design, construction, installation, and operation of offshore floating facilities, has confirmed the arrival of offshore equipment in Altamira, moving a multibillion-dollar ultra-deepwater oil development project closer to its installation campaign o

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Trion equipment arrives in Mexico ahead of offshore installation; Source: SBM Offshore
Trion equipment arrives in Mexico ahead of offshore installation; Source: SBM Offshore

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Netherlands-based SBM Offshore, a provider of the design, construction, installation, and operation of offshore floating facilities, has confirmed the arrival of offshore equipment in Altamira, moving a multibillion-dollar ultra-deepwater oil development project closer to its installation campaign off the coast of Mexico.

While announcing “big moves” for Trion , located 180 kilometers off the Mexican coastline and 30 kilometers south of the U.S./Mexico maritime border, SBM Offshore disclosed that key materials and major offshore equipment for the oil project safely arrived in Altamira, Mexico.

The list of items includes huge suction piles, chains, mooring components, and the disconnectable turret mooring (DTM) buoy, a critical element that will later be connected to the FSO Chalchi offshore Mexico. The Dutch firm emphasized: “From China to Mexico, via the Panama canal, involving impressive marine transport and offloading operations, this marks another important step as our project teams get ready for offshore installation. “A big thank you to everyone involved for the safe execution, careful planning and strong collaboration across the journey. Next stop: installation campaign!”

While the project’s initial capital expenditure investment is estimated at $7.2 billion, total development costs are anticipated to reach up to $10.4 billion over its full lifecycle.

The FSO Chalchi, currently under construction , will be operated by SBM Offshore under a 20-year lease and operate assignment with Woodside Energy through its affiliate in Mexico. The new-build FSO is based on a Suezmax-type hull.

The unit will be equipped with a disconnectable turret mooring system designed by the Dutch firm. The FSO, which will be moored in a water depth of about 2,500 meters, will be able to store around 950,000 barrels of crude oil.

The Trion deepwater oil project in the Gulf of Mexico is being brought to life by a joint venture between Woodside (60%, operator) and Pemex (40%).

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