BP Takes Full Control of Trinidad's Calypso Gas Project

BP has expanded its presence in Trinidad and Tobago by acquiring Woodside Energy's 70% stake in the Calypso gas project. The acquisition makes BP the sole owner of the development, which is located offshore and could provide additional supply to the company's existing operations in the country.

The deal covers Block TTDAA 14, a deepwater natural gas project that is still at an early stage. While no purchase price or development timetable was disclosed, taking full ownership gives BP control over future technical and investment decisions as it evaluates the resource within its broader Trinidad and Tobago portfolio.

Trinidad and Tobago relies heavily on offshore gas production to supply its domestic industrial sector and LNG exports. Additional upstream resources are strategically important for maintaining gas supplies to the country's existing infrastructure as mature fields decline.