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BP to acquire Woodside stake in Trinidad’s Calypso gas project
The agreement would raise BP’s ownership to 100% and make it operator of the offshore Block TTDAA 14 project, subject to approvals, with a planned close by the end of 2026.
BP has agreed to buy Woodside Energy’s 70% stake in the offshore Calypso gas project in Trinidad and Tobago, increasing its ownership to 100% and giving BP operatorship of the development, Yahoo Finance reported.
The deal covers Block TTDAA 14, an early stage deepwater natural gas project that could add supply for BP’s established Trinidad and Tobago operations, including its existing natural gas production and infrastructure footprint.
BP is the largest supplier of natural gas to the country’s domestic market and holds a 45% interest in the Atlantic LNG facility, which could support the economics of Calypso by leveraging existing infrastructure and operations.
The transaction remains subject to government and regulatory approvals and is expected to close by the end of 2026. BP did not disclose a purchase price or a development timetable, and Calypso’s early stage means the agreement alone does not commit to building the project.
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