bp Takes Control of Calypso Gas Project in Trinidad
bp has signed an agreement to acquire Woodside Energy's 70% participating interest in Block TTDAA 14, which is home to the Calypso gas project offshore Trinidad and Tobago. Upon completion of the transaction, bp will own 100% of the project and become its operator.
The acquisition aligns with bp's strategy of expanding production through assets located near its existing infrastructure, allowing the company to capitalize on operational efficiencies and reduce future development costs. The Calypso project is an early-stage deepwater natural gas development that could contribute to Trinidad and Tobago's future gas supply.
bp already has a strong presence in Trinidad and Tobago, where it is the country's largest supplier of natural gas to the domestic market. The company holds a 45% interest in the Atlantic LNG export facility situated off the southwest coast of Trinidad.