Woodside Energy to sell its 70% stake in the Calypso Gas Project
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- Woodside Energy agreed to sell its 70% stake in the Calypso Gas Project to BP.
- The transaction increases BP's ownership of the early-stage Trinidad deepwater asset to 100%.
- The divestment aligns with Woodside's strategy to exit non-core regional assets.
Woodside Energy (ASX:WDS) agreed to sell its 70% stake in the Trinidad Calypso Gas Project to BP (NYSE:BP)
The agreement increases BP's ownership of the early-stage deepwater project to 100%.
Woodside previously signalled that the deepwater gas asset was not core to its global portfolio.
BP operates as Trinidad's largest gas supplier and holds a 45% stake in Atlantic LNG.
Following the announcement, the Woodside Energy share price was unchanged at $31.72.
Former Woodside chief executive Meg O'Neill was appointed to lead BP in December.
The transaction forms part of Woodside's broader exit from offshore energy projects across the region.
