Woodside Energy sells 70% Calypso gas project stake to BP

Woodside Energy is selling its 70 percent stake in the Calypso deepwater gas project to BP, marking the Australian energy company’s complete withdrawal from Trinidad and Tobago by the end of 2026.

The transaction involves block TTDAA 14, which BP previously held a 30 percent interest in. Following the acquisition of Woodside’s majority share, BP will become the sole owner of the field. The Calypso field is estimated to hold approximately 3.5 trillion cubic feet (Tcf) of gas reserves.

This strategic move is part of Woodside’s effort to reallocate capital toward core projects and maintain capital discipline. The announcement led to a 2.1 percent increase in Woodside’s share price.