BP has agreed to acquire Woodside Energy’s 70 per cent interest in Block TTDAA 14, the Calypso gas project in Trinidad and Tobago, increasing it stake to 100 per cent and assuming operatorship.
Calypso is an early-stage deepwater natural gas project offshore Trinidad and Tobago, where BP has an established business and extensive oil and gas infrastructure. It is the largest supplier of gas to the domestic market and has a 45 per cent stake in the Atlantic LNG facility off Trinidad’s southwest coast. ‘By building on the strengths of our existing operations and infrastructure, we have the potential to unlock new production and support long-term growth in the region,’ said Gordon Birrell, BP’s executive vice president, Upstream.
The transaction is expected to close by the end of 2026 and is subject to approval by the government and regulators.
Meanwhile, Trinidad and Tobago’s crude oil and condensate production averaged 54,209 barrels per day during the first three months of this year, according to data from the Ministry of Energy and Energy Industries’ Monthly Consolidated Bulletin.
It shows production averaged 54,052 barrels per day in January, rose to 55,244 barrels per day in February and moderated to 53,431 barrels per day in March.
The first-quarter average was 427 barrels per day, or 0.8 per cent, above the 2025 annual average of 53,782 barrels per day. Compared with the first quarter of 2025, production increased by approximately 2,447 barrels per day, or 4.7 per cent.
The improvement during the first quarter of 2026 was led by stronger production from EOG Resources, Perenco and bpTT.
EOG recorded the largest year-on-year increase. The company’s crude and condensate production averaged 3,821 barrels per day during the first three months of 2026, compared with approximately 1,773 barrels per day during the same period last year. Production exceeded 4,000 barrels per day in both January and February before easing in March.
Perenco also posted a strong increase. Average production reached 10,156 barrels per day in the first quarter, up from about 8,309 barrels per day during the corresponding period in 2025. Output remained above 10,000 barrels per day in both February and March.
BpTT also contributed to the national increase. Liquids production averaged 4,906 barrels per day during the first quarter, compared with approximately 3,263 barrels per day in the same period last year. Monthly production remained relatively consistent throughout the quarter, ranging between 4,812 and 5,047 barrels per day.