Perenco Completes Acquisition of Woodside Energy Assets in Trinidad and Tobago

Anglo-French oil and gas player Perenco has successfully finalized the acquisition of assets off the coast of Trinidad and Tobago previously owned by Australia’s energy giant Woodside Energy. The acquisition includes the Greater Angostura assets, consisting of Woodside’s interests in the shallow water Angostura and Ruby offshore oil and gas fields, associated production facilities, and the onshore terminal. The transaction was completed on July 11.

Perenco has taken over the operatorship of the 2(C) and 3(A) production sharing contracts (PSCs) and an onshore terminal as part of the acquisition, aligning with the company’s strategic goals announced earlier this year.

Armel Simondin, the CEO of Perenco, expressed his confidence in the acquisition, stating, “This milestone will increase our gross production levels in excess of 100,000 boepd and allows us to further strengthen our partnership with the Government of Trinidad & Tobago. 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.”

The Greater Angostura offshore fields currently produce approximately 300 million standard cubic feet per day (mmscfd) or 50,000 barrels of oil equivalent per day (boepd) for the Trinidad & Tobago market, contributing about 12% of the national gas production.

Prior to the acquisition, Woodside held a 45% interest in the Angostura field, with the National Gas Company of Trinidad and Tobago and Chaoyang holding 30% and 25% stakes, respectively. In the Ruby field, Woodside owned a 68.46% interest, while the National Gas Company of Trinidad and Tobago held the remaining 31.54%.

With this acquisition, Perenco’s operations in Trinidad and Tobago will see a significant boost, with a gross gas production base of more than 500 mmscfd and a gross oil production exceeding 10,000 bopd.

Aside from its activities in Trinidad and Tobago, Perenco has also been active in Africa. Recently, the company announced plans to convert a mobile offshore production unit (MOPU) named Kombi 2 for deployment at the Kombi-Likalala-Libondo II (KLL II) license it operates offshore Congo.