BP Takes Full Ownership of Calypso Gas Project in Trinidad and Tobago

BP has entered into an agreement to acquire Woodside Energy's 70% stake in the Calypso gas project, located off the shore of Trinidad and Tobago. The project is a major early-stage deepwater discovery, boasting approximately 3.5 trillion cubic feet of natural gas.

The acquisition marks BP's full ownership of the project, which could help alleviate Trinidad and Tobago's current natural gas shortage. According to data from BP, the company produced around 1 billion cubic feet per day of natural gas in Trinidad and Tobago in 2025, accounting for over 15% of its net gas output.

This deal also marks Woodside's exit from the region, having sold some assets in its offshore oil and gas project in Trinidad and Tobago last year. BP CEO Meg O'Neill, who previously served as chief executive at Woodside, has stated no further details on the acquisition price or timeline.