bp has agreed to acquire Woodside Energy’s 70% interest in the offshore Calypso gas project, increasing its stake in Block TTDAA 14 to 100% and assuming operatorship.
The Calypso gas project is an early-stage deepwater natural gas project offshore Trinidad and Tobago.
The acquisition strengthens bp’s position in the country, where it is the largest supplier of natural gas to the domestic market and holds a 45% stake in the Atlantic LNG facility off Trinidad’s southwest coast.
bp’s Executive Vice President of its Upstream Operations, Gordon Birrell 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.”
The transaction is expected to close by the end of 2026, subject to approvals from the Government of Trinidad and Tobago and regulators.