BHP Gulf of Mexico Assets Key in Woodside Deal

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Australia's BHP has signed a deal to sell off its oil and natural gas portfolio to fellow Australian firm Woodside Petroleum, including a range of assets that made it a major player in the Gulf of Mexico. BHP's Geraldine Slattery told reporters Tuesday that the company will continue to develop the projects in its oil and gas portfolio, including the deepwater Trion discovery in Mexico, as the sale moves toward closing in the next six to nine months (OD Jul.28'21). “The merger rationale is the strength of the assets and the strength of the growth opportunities in both LNG and oil, and Trion is certainly a part of it,” said Slattery. BHP recently moved into the front-end engineering and design (Feed) phase at Trion, with the company poised to consider a final investment decision (FID) as soon as mid-2022 (OD Aug.5'21). “BHP has built up the relationships and momentum and progress in Mexico to build up confidence in the project,” said Slattery. Gauging the Gulf

Offshore Oil and Gas, Corporate Strategy , M&A
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