PERENCO has announced an agreement with Woodside Energy to acquire the Greater Angostura oil and gas assets.

This acquisition includes offshore fields, an onshore oil terminal, and associated production and transportation facilities.

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Upon completion of the share sale, Perenco will gain control of two Woodside entities, along with their working interest and operatorship of the 2(C) and 3(A) Production Sharing Contracts.

The Greater Angostura offshore fields, supported by seven fixed platforms and additional subsea facilities, target the Angostura and Ruby fields. These fields currently produce over 300 MMSCFD, or 50,000 barrels of oil equivalent per day, accounting for approximately 12% of Trinidad & Tobago’s national gas production.

Perenco CEO Armel Simondin said, “We are delighted to be further expanding our portfolio in Trinidad & Tobago. Following the recent safe and smooth transition of the CAFI perimeter to Perenco operatorship in late 2024, Perenco has proven itself to be a partner of choice to safeguard the Greater Angostura gas production for Trinidad & Tobago. We welcome the transferring employees to the Perenco family and look forward to an exciting new chapter together.”

The Ministry of Energy also commented on the development, highlighting Perenco’s reputation in mature asset optimisation.

It stated, “Perenco has been steadily growing its mature asset portfolio within Trinidad and Tobago as seen with its recent acquisition of the CAFI assets from bpTT and its development of the Teak, Samman, and Poui fields.”