BP Takes Full Control of Calypso Gas Project in Trinidad

BP has announced that it will acquire Woodside Energy's 70% stake in the Calypso gas project, located off the coast of Trinidad and Tobago. Upon completion, BP will own 100% of the project and become its operator.

The acquisition is part of BP's strategy to expand production through assets near its existing infrastructure, allowing the company to capitalize on operational efficiencies and reduce future development costs.

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 also holds a 45% interest in the Atlantic LNG export facility situated off the southwest coast of Trinidad.

The acquisition will support BP's long-term growth strategy by building on the strengths of its existing assets, according to Gordon Birrell, Executive Vice President of Upstream at BP.