PERENCO is set to expand its energy footprint in Trinidad and Tobago with the impending acquisition of Woodside Energy’s Greater Angostura oil and gas assets.
The deal includes offshore producing fields in the northeast shallow waters, an onshore oil terminal and associated production and transportation infrastructure.
Once the transaction is finalised, Perenco will assume control of two Woodside subsidiaries and take over operations of the 2(C) and 3(A) Production Sharing Contracts.
Perenco announced the moves in a statement on March 28. It said the acquisition will close by the third quarter of 2025.
The Greater Angostura fields, developed through seven fixed platforms and subsea infrastructure, produce more than 300 million standard cubic feet per day (mmscfd) of natural gas and approximately 50,000 barrels of oil equivalent per day. The fields supply around 12 per cent of TT’s total gas production.
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The acquisition is expected to enhance Perenco’s presence in the Columbus Basin, where it has operated since acquiring the Teak, Samaan, and Poui (TSP) fields in 2016.
The company, which operates in 14 countries worldwide, focuses on revitalising mature oil and gas assets to extend their productive life through investment and efficiency improvements.
The Greater Angostura assets lie about 40 km north of Perenco’s existing TSP operations.
Perenco CEO Armel Simondin expressed confidence in the company’s ability to integrate the new assets successfully.
"We are delighted to be further expanding our portfolio in TT. Following the recent safe and smooth transition of the CAFI perimeter to Perenco operatorship in late 2024, we have demonstrated our ability to be a trusted partner in ensuring the continuity of gas production for TT.
"We welcome the transferring employees and look forward to an exciting new chapter together," he said.
Upon completion of the acquisition, Perenco’s gas production in TT is projected to exceed 500 mmscfd.
The company expects to leverage operational synergies from its expanded asset base, increasing efficiency and enabling further investment in the country’s energy sector.
Since entering the TT market in 2016, Perenco has focused on modernising and improving efficiency in its offshore operations.
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The company initiated a comprehensive electrification programme at the TSP fields, aiming to boost gas production while enhancing sustainability.
In late 2024, Perenco expanded its local operations by acquiring the Cashima, Amherstia, Flamboyant and Immortelle (CAFI) assets.
Perenco’s global business model emphasises cost-efficient hydrocarbon production with a focus on sustainability.
Beyond its core energy activities, the company has committed to corporate social responsibility initiatives, focused on literacy, education and workforce skills development in TT.
The company’s investment strategy is centred on sustainable energy production while fostering economic and social benefits in the countries where it operates.
