Woodside Energy has reached an agreement with Perenco to sell its Greater Angostura assets in Trinidad and Tobago for $206 million. This transaction includes Woodside ‘s interest in the Angostura and Ruby shallow water oil and gas fields, along with associated production facilities and the onshore terminal. The sale is intended to generate short-term cash flow to support ongoing investments and distributions to shareholders.
The sale of Greater Angostura’s assets
The agreement with Perenco simplifies Woodside’s portfolio, following the Australian asset swap announced in December 2024. Meg O’Neill, Woodside’s CEO, underscored the importance of the Trinidad and Tobago government’s support for the development of Greater Angostura.
Over two decades of operations, Woodside has contributed more than $2 billion in tax revenue to the country and invested more than $1 billion in shallow water capital developments.
Greater Angostura has been a mainstay for Trinidad and Tobago, representing approximately 12% of the country’s gas supply. Although Woodside is divesting these assets, it will continue its operations in the region until the final closing of the transaction, expected in the third quarter of 2025. At that point, Perenco will assume ownership and operation of the assets and will be responsible for all restoration obligations.
However, the transaction does not include the Calypso deepwater development , which remains part of Woodside’s future strategy and will continue to work with the Government of Trinidad and Tobago and its joint venture partner to advance that opportunity.
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Source and photo: Woodside
