Trinidad and Tobago
BP has entered into an agreement with Woodside Energy, which is based in Australia, to acquire a 70% stake in Block TTDAA 14 off the coast of Trinidad and Tobago.
This block is the location of the Calypso offshore natural gas development.
The deal will increase BP’s stake in TTDAA to 100%, with BP taking over operatorship of the deepwater project.
Calypso is an early-stage deepwater gas project located in around 2,100 metres of water offshore Trinidad & Tobago, where BP already has a strong presence and extensive oil and gas infrastructure.
The transaction, which comprises both a cash payment and contingent payments, is expected to close by the end of the year.
BP is the largest gas supplier to the domestic market in Trinidad & Tobago and holds a 45% stake in the Atlantic LNG facility off the southwest coast of Trinidad.
