BP Takes Full Ownership of Calypso Gas Project

BP has taken full ownership of the Calypso gas project in Trinidad and Tobago after acquiring Australia-based Woodside Energy's 70% interest in the major deepwater discovery. The deal marks Woodside's exit from the region, having sold some assets in its offshore oil and gas projects in Trinidad and Tobago last year.

The Calypso natural gas discovery is off the shore of Trinidad and Tobago and could help ease the country's natural gas shortage, which has reduced output at liquefied natural gas and petrochemical facilities. BP is the largest supplier of gas to Trinidad and Tobago's domestic market and has a 45% stake in the Atlantic LNG facility.

BP produced around one billion cubic feet per day of natural gas in Trinidad and Tobago in 2025, over 15% of the company's net gas output. The deal comes as BP CEO Meg O'Neill looks to expand the company's presence in the region.