By the end of 2025, only five agreements had been concluded with small companies, further complicating the production goals of the oil company. 'There is a lot to learn in this decision-making process,' explained the expert, linking the reflection to the new mixed contracts that the Mexican government is promoting with Pemex and how partners should be sought. At the end of November, at an energy forum in Tamaulipas, Stephane Drouaud, Woodside Energy's vice president for Trion, presented the project's progress: it is 43% complete, with drilling projected for the next year and production in 2028. The Trion case offers several lessons for the current government, in the opinion of sector expert Fluvio Ruiz, although he acknowledges that the success of this alliance is somewhat fortuitous. 'It resulted in a good partnership, but more because of the partner itself—it has the willingness, capacity, and knowledge—than because of the selection process in the rounds.' Pemex announced changes in a key directorship amid the decline in production and the failure of mixed contracts. What Ruiz Alarcón reflects on is that the success of this partnership demonstrates that it is more valuable to prioritize technical and operational capabilities, objectives, and synergies with Pemex than the financial aspect, as was prioritized in the oil rounds. After years of delays, the progress on the Trion field, explored by Pemex in partnership with Woodside Energy, is significant this year, with plans to drill the first well in 2026 and serving as an example of a partnership with the private sector that the government should consider going forward. Located 30 kilometers south of the maritime border between Mexico and the United States, Trion was one of the most important fields in Pemex's portfolio, discovered by the company in 2012 and offered in 2016 as part of the oil rounds of the Peñista government. Although one of the main reasons is the lack of payment credibility due to debts to suppliers, various sector participants have also mentioned the business model that the oil company is promoting under these schemes. At the end of October, Víctor Rodríguez, Pemex's director, assured that the first 10 contracts with private companies would be signed this December, reducing the number promised in August by half. 'It's a fundamental change for the contracts to work.' The comment comes amid the difficulties Pemex has had in attracting new partners under the new mixed contracts. It was won by the British and Australian capital company BHP Billiton, but in 2021 it announced its withdrawal from the oil business, leaving the field in suspense. Finally, after almost two years of analysis, in 2023 Australian Woodside Energy gave the green light to a $7 billion investment to continue the partnership with Pemex. Above all, he emphasized that there must be clarity in the deal: 'Pemex must act as a partner that allies with a company, not as an employer.'
