Woodside agrees to sell its Greater Angostura assets in Trinidad & Tobago to Perenco for $206M, including offshore oil and gas fields, facilities, and an onshore terminal.The deal boosts near-term cash flow for investments and shareholder returns while simplifying Woodside’s portfolio. CEO Meg O’Neill acknowledged Trinidad and Tobago’s support, highlighting Greater Angostura’s economic and community contributions.
Over two decades, Woodside has paid over $2 billion in taxes to Trinidad and Tobago and invested over $1 billion in major shallow water developments.”Greater Angostura supplies about 12% of Trinidad and Tobago’s gas. We’re proud of our employees’ dedication to safe, reliable operations, which will continue under Perenco.”This divestment accelerates value realization, with proceeds supporting key investments across Woodside’s portfolio.”The transaction is set to close in Q3 2025, with an effective date of January 1, 2025, pending approvals.
Woodside will operate Greater Angostura until then, after which Perenco will take over ownership, operations, and restoration obligations.
Most Woodside employees in Trinidad and Tobago are expected to transfer to Perenco. The deepwater Calypso field is not included, and Woodside will continue working with partners to develop it.
