Australia’s Woodside has agreed to sell its Greater Angostura assets offshore Trinidad and Tobago to U.K.-based Perenco for $206 million, according to a March 28 press release.

The deal includes Woodside’s interest in the shallow water Angostura and Ruby oil and gas fields, associated production facilities and the onshore terminal, the release stated.

The Greater Angostura field produces approximately 12% of Trinidad and Tobago’s gas supply, said Woodside CEO Meg O’Neill in the release.

Woodside has paid more than $2 billion in taxes to Trinidad and Tobago and invested over $1 billion in major capital shallow water developments, she added.

“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,” O’Neill said.

Woodside will continue to operate the assets until the transaction’s close, which is anticipated for third-quarter 2025.

Woodside conducted a Western Australian asset swap with Chevron in December 2024.

Woodside acquired Chevron's interest in the North West Shelf project, NWS Oil project and Angel CCS project, while Chevron secured Woodside's interest in the Wheatstone and Julimar-Brunello projects. 

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