Woodside to Shed Some Trinidad and Tobago Assets for $206M

(Credit: Woodside Energy)

Australia's Woodside Energy said on Friday it would sell some assets in its offshore oil and gas project in Trinidad and Tobago to London-based Perenco for $206 million.

The sale includes the Greater Angostura project's offshore production facilities and interests in the shallow water Angostura and Ruby fields, but excludes assets in the deepwater Calypso field, Woodside said. 

Perenco will assume all restoration obligations, while most of Woodside's Trinidad and Tobago-based workforce is expected to transfer to the London-based company. 

Woodside, Australia's top gas producer, had acquired these assets in 2022 through its landmark $28 billion merger with BHP Group's petroleum business. 

The sale, effective since January 1, is expected to close in the third quarter, subject to regulatory approvals.

(Reuters)