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:

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.

  • Populaires ​
The Indonesian-Chinese lithium-ion battery plant will open with 6.9 GWh in 2026
Renewable energy: access improving, but financing still insufficient for Africa
Enbridge Gas Ohio challenges tariff ruling cutting its revenues by $30mn
Natural hydrogen: France on the verge of redefining its national and European energy strategy
Iberdrola increases supplementary dividend by 16.5% to €0.409 per share
Strong Rise in Solar Power Reduces Summer Demand for Natural Gas
Solar power generation increased sharply in the United States in June, significantly reducing natural gas consumption in the power sector, despite relatively stable overall electricity demand.
Exxon and QatarEnergy ask US for permission to re-export LNG from October
Golden Pass LNG, jointly owned by Exxon Mobil and QatarEnergy, has asked US authorities for permission to re-export liquefied natural gas starting October 1, anticipating the imminent launch of its operations in Texas.
Delfin Midstream secures strategic agreement with Siemens Energy and Samsung
Delfin Midstream reserves gas turbine manufacturing capacity with Siemens Energy and initiates an early works programme with Samsung Heavy Industries, ahead of its anticipated final investment decision in the autumn.
DNO secures USD 500 million financing linked to Norwegian gas
Norwegian group DNO ASA signs gas offtake contract with ENGIE and secures USD 500 million financing from a major US bank to guarantee future revenues from its Norwegian gas production.
Golar LNG raises $575mn through bond issuance and repurchases shares
Golar LNG Limited has completed a private placement of $575mn in convertible bonds due in 2030, using part of the proceeds to repurchase and cancel 2.5 million of its own common shares, thus reducing its share capital.
Shell ships first LNG cargo from its LNG Canada facility
Shell Canada Energy announces shipment of the first liquefied natural gas cargo from its LNG Canada complex, located in Kitimat, British Columbia, primarily targeting fast-growing Asian economic and energy markets.
Australia considers east coast gas reservation as market pressures intensify
The Australian government is considering the establishment of an east coast gas reservation as part of a sweeping review of market rules to ensure supply, with risks of shortages signalled by 2028.
The drilling fluids industry will reach $10.7bn by 2032 driven by oil expansion and chemical innovations
The increase in oil drilling, deepwater exploration, and chemical advances are expected to raise the global drilling fluids market to $10.7bn by 2032, according to Meticulous Research.
Global small-scale LNG market to reach $31.78bn by 2030
The small-scale liquefied natural gas market is forecast to grow at an annual rate of 7.5%, reaching an estimated total value of $31.78bn by 2030, driven particularly by maritime and heavy-duty road transport sectors.
Europe extends gas storage obligations until 2027
The European Union extends gas storage regulations by two years, requiring member states to maintain a minimum fill rate of 90% to ensure energy security and economic stability amid market uncertainties.
Chevron and Energy Transfer Expand Their LNG Agreement at Lake Charles
Energy Transfer strengthens its partnership with Chevron by increasing their liquefied natural gas supply agreement by 50% from the upcoming Lake Charles LNG export terminal, strategically aiming for long-term supply security.
Woodside completes sale of 40% stake in Louisiana LNG project to Stonepeak
Woodside finalises the divestment of a 40% stake in the Louisiana LNG project to Stonepeak, injecting $5.7 billion to accelerate developments and optimise financial returns ahead of first gas delivery scheduled in 2026.
Keranic takes over Royal Helium and fast-tracks Steveville plant restart
Keranic Industrial Gas seals a sixty-day exclusivity deal to buy Royal Helium’s key assets, raise CAD9.5mn ($7.0mn) and bring Alberta’s Steveville plant back online in under fifteen weeks.
Fusion Fuel: Al Shola Gas secures AED4.4 mn ($1.2 mn) in contracts
The Irish-Portuguese company Fusion Fuel strengthens its footprint in the United Arab Emirates as subsidiary Al Shola Gas adds AED4.4 mn ($1.2 mn) in new engineering contracts, consolidating an already robust 2025 order book.
Cheniere Energy Approves Expansion of Corpus Christi LNG Terminal for 2029
Cheniere Energy validates major investment to expand Corpus Christi terminal, adding two liquefaction units to increase its liquefied natural gas export capacity by 2029, responding to recent international agreements.
LNG industry could reduce emissions by 60%, according to IEA
A study by the International Energy Agency reveals that global emissions from liquefied natural gas could be significantly reduced using current technologies.
Europe accelerates gas storage filling despite declining reserves
Europe is injecting natural gas into underground storage facilities at a three-year high, even as reserves remain below historical averages, prompting maximized imports of liquefied natural gas (LNG).
Seoul freezes electricity rates amid LNG supply risk concerns
South Korea abandons plans to lower electricity rates this summer, fearing disruptions in liquefied natural gas supply due to escalating geopolitical tensions in the Middle East, despite recent declines in fuel import costs.
Russia ready to deliver liquefied natural gas to Mexico
Russia positions itself to supply liquefied natural gas to Mexico and considers expanded technological sharing in the energy sector, according to Russian Energy Minister Sergey Tsivilyov.
Israel resumes gas exports to Egypt and Jordan
Israel has partially resumed its natural gas exports to Egypt and Jordan following a week-long halt due to the closure of two major offshore gas fields, Leviathan and Karish.

LEGAL

FOSSILS

POLICY

RENEWABLE

PLUS

© XMARKET PUBLISHING

Welcome

Your subscription

Included in this subscription:

COMMUNICATE ON ENERGYNEWS