PORT OF SPAIN, Trinidad, CMC – The French-based independent oil and gas company, Perenco, says it has completed the acquisition of the Greater Angostura producing oil and gas assets and associated production facilities from the Australian-based Woodside Energy in Trinidad and Tobago.
The finalisation of the deal, combined with Perenco’s existing operation of the Teak, Samaan, and Poui (TSP) and Cashima, Amherstia, Flamboyant, and Immortelle (“CAFI”) fields, aligns Perenco as a significant oil and gas producer in the country.
According to the company, Perenco had, as of July 11, completed the acquisition of two Woodside Energy entities, including their working interest and operatorship of the Production Sharing Contracts, as well as their onshore terminal.
The Greater Angostura offshore fields, developed by seven fixed platforms and additional subsea facilities targeting the Angostura and Ruby oil and gas fields, produce approximately 300 mmscfd, or 50,000 boepd, for the Trinidad and Tobago market, accounting for roughly 12 percent of the national gas production.
“This acquisition is an exciting, promising addition to Perenco’s acreage in Trinidad and Tobago. It shows our continued commitment and ambition towards developing energy resources and contributing towards the country’s economic growth,” said Perenco chief executive officer, Armel Simondin.
“This milestone will increase our gross production levels over 100,000 boepd and allows us to strengthen further our partnership with the government of Trinidad and Tobago. We are confident that our specific skill in mature field assets and marginal resources will secure long-lasting production from the Angostura asset, while prioritizing the safety of our people and environmental sustainability.
“We are pleased to welcome our new colleagues to the Perenco family and would like to recognize all the players who contributed to the success of this acquisition. I would like to thank the Energy and Energy Industries and all the people at Perenco and Woodside who worked diligently to make the short transition period a success,” he added.
Following this acquisition, Perenco’s operations in Trinidad and Tobago will have a gross gas production base of more than 500 million standard cubic feet per day (mmscfd) as well as a gross oil production of more than 10,000 barrels of oil per day (bopd), both of which can benefit from significant operational synergies, boost value, and enable further investment.
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