Australian oil and gas major Woodside Energy has entered into an agreement with Perenco to divest its Greater Angostura assets in Trinidad and Tobago for $206 million.
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The transaction provides near-term cash flow to support ongoing investments and shareholder distributions and builds on the Australian asset swap announced in December 2024, further simplifying Woodside’s portfolio.
Woodside CEO Meg O’Neill said, “Greater Angostura has been a valuable contributor to the economy of Trinidad and Tobago, providing economic and community benefits.
“The Greater Angostura field produces approximately 12% of Trinidad and Tobago’s gas supply. Woodside is proud of our employees and their commitment to safe and reliable operations in Trinidad and Tobago. Their efforts will continue under the stewardship of Perenco.
“The divestment accelerates the realisation of value from Greater Angostura and proceeds from the sale will be used to support ongoing investment in core priorities across Woodside’s portfolio.”
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The transaction is expected to close in the third quarter of 2025. Woodside will continue to operate the Greater Angostura assets until close. Following transaction close, ownership and operatorship of the assets will be transferred to Perenco.
