Perenco set to take command of Greater Angostura fields offshore Trinidad
Woodside Energy has agreed to sell its Greater Angostura production assets in Trinidad and Tobago to Perenco for $206 million.
The transaction covers Woodside’s interest in the shallow-water Angostura and Ruby oil and gas fields, the associated production facilities, and the onshore oil reception terminal.
Greater Angostura, discovered in 1999, produced first oil in January 2005, followed by gas in 2011 under a Phase 2 development. First gas for Angostura Phase 3 was achieved in September 2016.
Ruby is a conventional offshore oil and gas field in the area, which delivered first oil in May 2021.
The offshore facilities comprise a main central processing platform, a gas export platform, four wellhead protector platforms and the onshore terminal in southeast Trinidad. Flowlines connect the Ruby wellhead platform back to the Angostura complex for processing.
Over the past two decades, Woodside has invested more than $1 billion in shallow-water developments offshore Trinidad and Tobago, said CEO Meg O’Neill. Greater Angostura currently accounts for about 12% (300 MMcf/d) of the nation’s gas supplies.
Overall, the fields produce 50,000 boe/d, according to Perenco.
Upon completion of the deal, ownership and operatorship of the interests and the 2(C) and 3 (A) production sharing contracts will transfer to Perenco, with the latter also taking on all restoration obligations in relation to the assets. Woodside expects most of its employees based locally to also switch to Perenco.
Woodside will continue to progress work on the deepwater Calypso field, which is not part of the transaction.
