The Anglo-French company grows its gross production base in the Caribbean country to over 500 MMscfd of gas and more than 10,000 bopd of oil.
The National Gas Company holds 30% in Angostura and 31.54% in Ruby, with Chaoyang Petroleum owning 25% in Angostura. Perenco’s acquisition increases its Trinidad and Tobago production to over 500 million standard cubic feet per day of gas and 10,000 barrels per day of oil, supporting operational synergies and future investments.
Perenco’s CEO, Armel Simondin, said: “We are confident that our specific skill in mature field assets and marginal resources will secure long-lasting production from the Angostura asset, while prioritizing the safety of our people and environmental sustainability.” Most Woodside employees in the region transferred to Perenco.
Woodside’s CEO, Meg O’Neill, stated: “As a result of operations over the past two decades, Woodside has paid more than AUD 2 billion in taxes to Trinidad and Tobago and invested over AUD 1 billion in major capital shallow water developments.” She added: “This transaction is another demonstration of Woodside’s disciplined approach to portfolio management and optimization, aimed at delivering sustainable returns to shareholders over the long term.” Woodside retains its stake in the deepwater Calypso field for future development.
Perenco, operating fields like Teak, Samaa, Poui (acquired 2016), and others (acquired 2024) in Trinidad and Tobago, aims to enhance production efficiency and sustainability through this acquisition.
