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BP Takes Full Ownership of Trinidad's Calypso Gas Project

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BP (BP) agreed to acquire Woodside Energy's 70% interest in Block Trinidad and Tobago Deep Atlantic Area 14, increasing its ownership to 100% and assuming operatorship, the company said Thursday.

Block TTDAA 14 contains the Calypso project, an early-stage deepwater natural gas development offshore Trinidad and Tobago.

With extensive oil and gas infrastructure already in Trinidad and Tobago, BP is the country's largest supplier of natural gas to the domestic market and holds a 45% stake in the Atlantic LNG facility off the southwest coast, the company said.

"By building on the strengths of our existing operations and infrastructure, we have the potential to unlock new production and support long-term growth in the region," said Gordon Birrell, BP executive vice president, upstream.

The companies expect to complete the transaction by the end of 2026, subject to approvals from the Trinidad and Tobago government and regulators.

Price: $42.08, Change: $+0.87, Percent Change: +2.11%

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