Perenco has completed its acquisition of the Greater Angostura producing oil and gas assets and associated production facilities from Woodside Energy in Trinidad & Tobago, the company announced Friday. The finalization 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 major oil and gas producer in country.
The Greater Angostura offshore fields, developed by seven fixed platforms and additional subsea facilities targeting the Angostura and Ruby oil and gas fields, produce today approximately 300 MMscfd, or 50,000 boed, for the Trinidad & Tobago market (approximately 12% of the national gas production).
“This acquisition is an exciting, promising addition to Perenco’s acreage in Trinidad and Tobago,” commented Armel Simondin, CEO of Perenco. “It shows our continued commitment and ambition towards developing energy resources and contributing towards the country’s economic growth. This milestone will increase our gross production levels in excess of 100,000 boed and allows us to further strengthen our partnership with the Government of Trinidad & 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,” Simondin continued. “We are pleased to welcome our new colleagues to the Perenco family and would like to recognize all the players who contributed towards the success of this acquisition. I would like to thank the Ministry of Energy and Energy Industries and all the people at Perenco and Woodside who worked diligently to make the short transition period a success.”
Following this acquisition Perenco’s operations in Trinidad and Tobago will have a gross gas production base of more than 500 MMscfd as well as a gross oil production of more than 10,000 bopd, that can both benefit from significant operational synergies, boost value and enable further investment. Perenco is pleased to be enlarging its footprint in the country and increasing its contribution towards the local energy supply.
