Perenco picks up Woodside assets in Trinidad

PORT OF SPAIN, March 28, 2025 – Woodside has entered into an agreement with Perenco to divest its Greater Angostura assets in Trinidad and Tobago for USD 206 million, Woodside announced on Friday

The transaction includes Woodside’s interest in the shallow water Angostura and Ruby offshore oil and gasfields, associated production facilities and the onshore terminal. The deepwater Calypso field is not included in the transaction.

Greater Angostura and Ruby are conventional oil and gasfields located 38 kilometres off the northeastern coast of Trinidad. Their development infrastructure comprises processing platform and gas export platforms, four wellhead protector platforms and an onshore terminal. Greater Angostura produces approximately 12% of Trinidad and Tobago’s gas supply.

“The divestment accelerates the realisation of value from Greater Angostura and proceeds from the sale will be used to support ongoing investment in core priorities across Woodside’s portfolio. This transaction is another demonstration of Woodside’s disciplined approach to portfolio management and optimisation, aimed at delivering sustainable returns to shareholders over the long term,” said Meg O’Neill, CEO of Woodside.

Woodside will continue to operate the assets until the close of the transactio, which is expected in Q3 2025, subject to customary closing conditions and regulatory approval.

Perenco is in the process of acquiring mature assets to boost its global production. In September 2024, Perenco acquired the Immortelle, Flamboyant, Amherstia and Cashima offshore gasfields and associated production facilities from BP Trinidad and Tobago.

Photo courtesy of Woodside Energy

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