bp to acquire Woodside’s 70% stake in Calypso (Block TTDAA 14)
Key highlights
- bp to buy Woodside Energy’s 70% interest in Block TTDAA 14 (Calypso), taking its stake to 100% and becoming operator.
- Calypso is an early-stage deepwater natural gas project offshore Trinidad and Tobago.
- bp already has an established business and extensive oil and gas infrastructure in Trinidad and Tobago and is the largest supplier of gas to the domestic market.
- Transaction expected to close by end of 2026 and is subject to government and regulator approvals.
Deal
bp has agreed to acquire Woodside Energy’s 70% interest in Block TTDAA 14 (Calypso), increasing bp’s stake to 100% and assuming operatorship.
Project
Calypso is an early-stage deepwater natural gas project offshore Trinidad and Tobago. bp has an established business and extensive oil and gas infrastructure in the country.
Local supply position
bp is the largest supplier of gas to the domestic market and holds a 45% stake in the Atlantic LNG facility off Trinidad’s southwest coast.
Timing and approvals
The transaction is expected to close by the end of 2026 and is subject to approval by the government and regulators.
Source: bp