BP Takes Full Control of Trinidad's Calypso Gas Project

BP has secured full control of the Calypso gas project in Trinidad and Tobago after acquiring Woodside's 70% stake. The transaction increases BP's ownership from 30% to 100%, giving it sole control over one of the country's largest undeveloped gas resources.

The Calypso gas project holds approximately 3.5 trillion cubic feet of natural gas, making it a significant asset in Trinidad and Tobago's energy market. BP already supplies around 15% of its global net gas production to the domestic market and has a 45% interest in Atlantic LNG, which provides a potential commercial advantage.

The acquisition aligns with BP's strategy of concentrating on assets where it can leverage existing capabilities and infrastructure. The company will now have full control over Calypso's technical, commercial, and investment decisions, which could simplify project governance.