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.
