Perenco strengthens position in Trinidad and Tobago with acquisition of Woodside assets

Perenco will acquire Woodside’s oil and gas assets in Trinidad and Tobago, expanding its national output beyond 500 million standard cubic feet per day following expected closing by the third quarter of 2025.

Share:

Gain full professional access to energynews.pro from 4.90$/month.
Designed for decision-makers, with no long-term commitment.

Over 30,000 articles published since 2021.
150 new market analyses every week to decode global energy trends.

Monthly Digital PRO PASS

Immediate Access
4.90$/month*

No commitment – cancel anytime, activation in 2 minutes.

*Special launch offer: 1st month at the indicated price, then 14.90 $/month, no long-term commitment.

Annual Digital PRO Pass

Full Annual Access
99$/year*

To access all of energynews.pro without any limits

*Introductory annual price for year one, automatically renewed at 149.00 $/year from the second year.

Franco-British group Perenco has announced that it has reached an agreement to acquire the oil and gas production assets of Woodside Energy located in the northeast offshore shallow waters of Trinidad and Tobago. The deal includes the Greater Angostura offshore fields, the onshore oil terminal, and associated production and transportation infrastructure.

Through a share sale, Perenco will take operational control of two Woodside entities, along with their interests in the 2(C) and 3(A) Production Sharing Contracts. The Angostura and Ruby fields, developed via seven fixed platforms and additional subsea infrastructure, deliver a combined output exceeding 300 million standard cubic feet per day (MMSCFD), equivalent to approximately 50,000 barrels of oil equivalent per day. This volume represents roughly 12% of the country’s natural gas production.

Strategic expansion in the Columbus Basin

The Greater Angostura assets are located approximately 40 kilometres north of the Teak, Samaan, and Poui (TSP) fields, which Perenco acquired in 2016. With this new transaction, Perenco is reinforcing its presence in the Columbus Basin, a strategic area for its offshore operations in Trinidad and Tobago.

The company highlights potential operational synergies between its existing and newly acquired assets. The transaction is expected to close by the third quarter of 2025, at which point Perenco’s gross national production will surpass 500 MMSCFD.

Consolidation of a national presence

Prior to this acquisition, Perenco had already expanded its operational footprint in 2024 with the integration of the Cashima, Amherstia, Flamboyant, and Immortelle (CAFI) gas-producing assets. That transition marked a major step for the company, strengthening its capacity to take over and manage complex infrastructure.

Armel Simondin, Chief Executive Officer of Perenco, stated that this acquisition reflects the group’s commitment to becoming a central player in Trinidad’s energy sector. He also welcomed the incoming employees, emphasising their role in ensuring the success of future operations.

Tenaz Energy finalised the purchase of stakes in the GEMS project between Dutch and German waters, aiming to boost production to 7,000 boe/d by 2026.
Sembcorp Salalah Power & Water Company has obtained a new 10-year Power and Water Purchase Agreement from Nama Power and Water Procurement Company, ensuring operational continuity until 2037.
Eni North Africa restarts drilling operations on well C1-16/4 off the Libyan coast, suspended since 2020, aiming to complete exploration near the Bahr Es Salam gas field.
GOIL is investing $50mn to expand its LPG storage capacity in response to sustained demand growth and to improve national supply security.
QatarEnergy continues its international expansion by acquiring 27% of the offshore North Cleopatra block from Shell, amid Egypt’s strategic push to revive gas exploration in the Eastern Mediterranean.
An analysis by Wood Mackenzie shows that expanding UK oil and gas production would reduce costs and emissions while remaining within international climate targets.
Polish authorities have 40 days to decide on the extradition of a Ukrainian accused of participating in the 2022 sabotage of the Nord Stream pipelines in the Baltic Sea.
The Japanese company has completed the first phase of a tender for five annual cargoes of liquefied natural gas over seven years starting in April 2027, amid a gradual contractual renewal process.
Baker Hughes has secured a contract from Bechtel to provide gas turbines and compressors for the second phase of Sempra Infrastructure’s LNG export project in Texas.
Targa Resources will build a 500,000 barrels-per-day pipeline in the Permian Basin to connect its assets to Mont Belvieu, strengthening its logistics network with commissioning scheduled for the third quarter of 2027.
Brazilian holding J&F Investimentos is in talks to acquire EDF’s Norte Fluminense thermal plant, valued up to BRL2bn ($374 million), as energy-related M&A activity surges across the country.
Chevron has appointed Bank of America to manage the sale of pipeline infrastructure in the Denver-Julesburg basin, targeting a valuation of over $2 billion, according to sources familiar with the matter.
Hungary has signed a ten-year agreement with Engie for the annual import of 400 mn m³ of liquefied natural gas starting in 2028, reinforcing its energy diversification strategy despite its ongoing reliance on Russian gas.
Wanted by Germany for his alleged role in the 2022 sabotage of the Nord Stream pipelines, a Ukrainian has been arrested in Poland and placed in provisional detention pending possible extradition.
An unprecedented overnight offensive targeted gas infrastructure in Ukraine, damaging several key facilities in the Kharkiv and Poltava regions, according to Ukrainian authorities.
The Dunkirk LNG terminal, the second largest in continental Europe, is seeing reduced capacity due to a nationwide strike disrupting all French LNG infrastructure.
Russia’s liquefied natural gas output will increase steadily through 2027 under the national energy development plan, despite a 6% drop recorded in the first eight months of 2024.
QatarEnergy has signed a long-term contract with Messer to supply 100 million cubic feet of helium per year, strengthening Doha’s position as a key player in this strategic market.
US-based fund KKR has acquired a minority interest in the gas pipeline assets of Abu Dhabi oil operator ADNOC, continuing its strategy to expand energy infrastructure investments in the Middle East.
Shell UK has started production at the Victory field north of Shetland, integrating its volumes into the national gas network through existing infrastructure to strengthen UK supply.