August 17, 2026 [Storage Terminals Magazine]- bp has agreed to acquire Woodside Energy’s 70 percent interest in Block TTDAA 14, the Calypso gas project offshore Trinidad and Tobago, in a transaction that will give bp full ownership and operatorship of the early-stage deepwater development.

The acquisition will increase bp’s interest in Calypso to 100 percent, strengthening the company’s position in Trinidad and Tobago, where it already operates an established oil and gas business supported by significant production and infrastructure.

Calypso is an early-stage deepwater natural gas project located offshore Trinidad and Tobago. The development is expected to benefit from bp’s existing operations and infrastructure in the country, potentially providing opportunities to support future natural gas production and regional growth.

bp is currently the largest supplier of natural gas to Trinidad and Tobago’s domestic market and holds a 45 percent interest in Atlantic LNG, the liquefied natural gas facility located off the country’s southwest coast.

Gordon Birrell, bp’s executive vice president, Upstream, said the company sees an opportunity to build on its existing presence and infrastructure in the region through the acquisition.

“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,” Birrell said.

The transaction is expected to close by the end of 2026, subject to approval from the government of Trinidad and Tobago and relevant regulatory authorities.

The acquisition would give bp full control of the Calypso project as it evaluates the development of the deepwater gas resource and its potential role in supporting the country’s future energy supply.