BP acquires Woodside Energy's 70% stake in Calypso offshore gas project

Type: Acquisition · Technology: Gas · Country: Trinidad and Tobago · Announced: 2026-08-07

BP agreed to acquire Woodside Energy's 70% interest in Block TTDAA 14, which contains the Calypso gas project offshore Trinidad and Tobago, increasing its stake to 100% and assuming operatorship. The transaction is expected to close by the end of 2026, subject to government and regulatory approvals. Calypso is an early-stage deepwater natural gas project located approximately 220 km offshore Trinidad in water depths of around 2,100 meters. The resource includes several gas discoveries across Block TTDAA 14 and Block 23(a). Woodside advanced the project through concept selection in the first half of 2023, choosing an in-field host as the preferred development concept before starting pre-front-end engineering and design (pre-FEED) work in the second half of the year.

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