Perenco takes over Trinidadian assets from Woodside

July 14, 2025, by Dragana Nikše

Anglo-French oil and gas player Perenco has finalized the acquisition of assets off the coast of Trinidad and Tobago formerly owned by Australia’s energy giant Woodside Energy.

The acquisition of the Greater Angostura assets, encompassing the Australian major’s interest in the shallow water Angostura and Ruby offshore oil and gas fields, associated production facilities, and the onshore terminal was completed on July 11.

With the transaction finalized, Perenco has taken over the operatorship of the 2(C) and 3(A) production sharing contracts (PSCs) and an onshore terminal, in line with the March announcement.

Perenco to acquire Woodside’s Trinidadian assets for $206 million

Business & Finance

Perenco’s Chief Executive Officer (CEO), Armel Simondin, said: “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 are said to 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. According to the Anglo-French player, this accounts for approximately 12% of the national gas production.

Woodside had a 45% interest in the Angostura field, with the National Gas Company of Trinidad and Tobago and Chaoyang holding 30% and 25% stakes, respectively. As for Ruby, the Australian player held a 68.46% interest in it, while the remaining 31.54% is held by the National Gas Company of Trinidad and Tobago.

Following this acquisition, Perenco says its operations in Trinidad and Tobago will have a gross gas production base of more than 500 mmscfd as well as a gross oil production of more than 10,000 bopd.

The Anglo-French firm has been keeping busy in Africa as well. Last month, it shared its plan to convert a mobile offshore production unit (MOPU) Kombi 2 to be deployed at Kombi-Likalala-Libondo II (KLL II), a license it operates offshore Congo.