bp to acquire Woodside's 70% interest in Calypso project

bp has agreed to acquire Woodside Energy’s 70% stake in Block TTDAA 14, which contains the Calypso gas project in Trinidad and Tobago. The acquisition will increase bp’s ownership to 100% and make the company the operator of the project.

Calypso is an early-stage deepwater natural gas development located offshore Trinidad and Tobago. The project complements bp’s long-established presence in the country, where it operates extensive oil and gas infrastructure. bp is also the largest supplier of natural gas to the domestic market and holds a 45% interest in the Atlantic LNG facility off Trinidad’s southwest coast.

“By building on the strengths of our existing operations and infrastructure, we have the potential to unlock new production and support long-term growth in the region,” said Gordon Birrell, bp’s executive vice president, Upstream.

The transaction is expected to be completed by the end of 2026, pending approval from the government and relevant regulatory authorities.