Woodside divests Greater Angostura assets to Perenco for $206 million 

TRINIDAD AND TOBAGO: Woodside Energy has announced the sale of its Greater Angostura assets in Trinidad and Tobago to Perenco, an independent hydrocarbon producer, for $206 million. The deal includes Woodside’s stakes in the shallow water Angostura and Ruby offshore oil and gas fields, along with associated production facilities and an onshore terminal. 

The transaction, expected to close in the third quarter of 2025 with an effective date of 1 January 2025, is part of Woodside’s strategy to streamline its portfolio and focus on core priorities. The proceeds will support ongoing investments and shareholder distributions. 

Woodside CEO Meg O’Neill highlighted the company’s significant contributions to Trinidad and Tobago’s economy, including over $2 billion in taxes paid and $1 billion invested in capital developments over the past two decades. The Greater Angostura field currently supplies approximately 12% of the nation’s gas. 

“We are proud of our employees’ commitment to safe and reliable operations in Trinidad and Tobago,” O’Neill said. “Their efforts will continue under Perenco’s stewardship.” 

The divestment does not include the deepwater Calypso field, which Woodside will continue to develop with its joint venture partner and the Trinidad and Tobago government. 

Perenco, which has operated in Trinidad and Tobago since 2016, will assume ownership, operatorship, and restoration obligations for the Greater Angostura assets. Most Woodside employees in the region are expected to transfer to Perenco upon completion of the deal.