Woodside to Divest Greater Angostura Assets to Perenco
Woodside (WDS) has agreed to sell its Greater Angostura assets in Trinidad and Tobago to Perenco for $206 million. The deal includes Woodside's interests in the shallow water Angostura and Ruby offshore oil and gas fields, associated production facilities, and the onshore terminal.
The transaction, expected to close in Q3 2025 with an effective date of January 1, 2025, will provide near-term cash flow for ongoing investments and shareholder distributions. Greater Angostura currently produces approximately 12% of Trinidad and Tobago's gas supply. Over the past two decades, Woodside has paid more than $2 billion in taxes and invested over $1 billion in major capital shallow water developments in the region.
Following the closure, Perenco will assume ownership, operatorship, and restoration obligations of the assets. Most Woodside employees in Trinidad and Tobago are expected to transfer to Perenco. The deepwater Calypso field is not included in this transaction.
Woodside (WDS) ha concordato di vendere i suoi beni di Greater Angostura a Trinidad e Tobago a Perenco per 206 milioni di dollari. L'accordo include gli interessi di Woodside nei campi petroliferi e di gas offshore Angostura e Ruby, le strutture di produzione associate e il terminal onshore.
La transazione, prevista per chiudere nel terzo trimestre del 2025 con una data di efficacia del 1 gennaio 2025, fornirà flusso di cassa a breve termine per investimenti in corso e distribuzioni agli azionisti. Greater Angostura attualmente produce circa il 12% dell'offerta di gas di Trinidad e Tobago. Negli ultimi due decenni, Woodside ha pagato più di 2 miliardi di dollari in tasse e ha investito oltre 1 miliardo di dollari in importanti sviluppi di capitale in acque poco profonde nella regione.
Dopo la chiusura, Perenco assumerà la proprietà, l'operatività e gli obblighi di ripristino dei beni. La maggior parte dei dipendenti di Woodside a Trinidad e Tobago dovrebbe trasferirsi a Perenco. Il campo Calypso in acque profonde non è incluso in questa transazione.
Woodside (WDS) ha acordado vender sus activos de Greater Angostura en Trinidad y Tobago a Perenco por 206 millones de dólares. El acuerdo incluye los intereses de Woodside en los campos de petróleo y gas offshore Angostura y Ruby, las instalaciones de producción asociadas y la terminal en tierra.
La transacción, que se espera cierre en el tercer trimestre de 2025 con una fecha efectiva del 1 de enero de 2025, proporcionará flujo de efectivo a corto plazo para inversiones en curso y distribuciones a los accionistas. Greater Angostura produce actualmente aproximadamente el 12% del suministro de gas de Trinidad y Tobago. En las últimas dos décadas, Woodside ha pagado más de 2 mil millones de dólares en impuestos e invertido más de 1 mil millones de dólares en importantes desarrollos de capital en aguas poco profundas en la región.
Tras el cierre, Perenco asumirá la propiedad, la operación y las obligaciones de restauración de los activos. Se espera que la mayoría de los empleados de Woodside en Trinidad y Tobago se transfieran a Perenco. El campo Calypso en aguas profundas no está incluido en esta transacción.
우드사이드(WDS)는 트리니다드 토바고의 그레이터 앙고스투라 자산을 페렌코에 2억 6천만 달러에 판매하기로 합의했습니다. 이 거래에는 우드사이드의 얕은 수심 앙고스투라 및 루비 해양 석유 및 가스 분야에 대한 이해관계, 관련 생산 시설 및 육상 터미널이 포함됩니다.
2025년 1월 1일을 기준일로 하여 2025년 3분기에 마감될 것으로 예상되는 이 거래는 진행 중인 투자 및 주주 배당을 위한 단기 현금 흐름을 제공할 것입니다. 그레이터 앙고스투라는 현재 트리니다드 토바고의 가스 공급의 약 12%를 생산하고 있습니다. 지난 20년 동안 우드사이드는 20억 달러 이상의 세금을 납부하고 이 지역의 주요 자본 얕은 수심 개발에 10억 달러 이상을 투자했습니다.
마감 후 페렌코는 자산의 소유권, 운영 및 복원 의무를 인수하게 됩니다. 트리니다드 토바고의 우드사이드 직원 대부분은 페렌코로 전근할 것으로 예상됩니다. 심해 칼립소 유전은 이번 거래에 포함되지 않습니다.
Woodside (WDS) a accepté de vendre ses actifs de Greater Angostura à Trinidad et Tobago à Perenco pour 206 millions de dollars. L'accord comprend les intérêts de Woodside dans les champs de pétrole et de gaz offshore Angostura et Ruby, les installations de production associées et le terminal terrestre.
La transaction, qui devrait se conclure au troisième trimestre 2025 avec une date d'effet au 1er janvier 2025, fournira un flux de trésorerie à court terme pour les investissements en cours et les distributions aux actionnaires. Greater Angostura produit actuellement environ 12 % de l'approvisionnement en gaz de Trinidad et Tobago. Au cours des deux dernières décennies, Woodside a payé plus de 2 milliards de dollars en impôts et a investi plus de 1 milliard de dollars dans des développements majeurs en capital dans les eaux peu profondes de la région.
Après la clôture, Perenco assumera la propriété, l'exploitation et les obligations de restauration des actifs. La plupart des employés de Woodside à Trinidad et Tobago devraient être transférés à Perenco. Le champ en eau profonde de Calypso n'est pas inclus dans cette transaction.
Woodside (WDS) hat zugestimmt, seine Greater Angostura-Assets in Trinidad und Tobago für 206 Millionen Dollar an Perenco zu verkaufen. Der Deal umfasst Woodside's Interessen an den flachen Wasserfeldern Angostura und Ruby sowie die zugehörigen Produktionsanlagen und das Onshore-Terminal.
Die Transaktion, die voraussichtlich im dritten Quartal 2025 mit einem Stichtag vom 1. Januar 2025 abgeschlossen wird, wird kurzfristige Cashflows für laufende Investitionen und Ausschüttungen an die Aktionäre bereitstellen. Greater Angostura produziert derzeit etwa 12 % der Gasversorgung von Trinidad und Tobago. In den letzten zwei Jahrzehnten hat Woodside mehr als 2 Milliarden Dollar an Steuern gezahlt und über 1 Milliarde Dollar in bedeutende Kapitalprojekte in flachen Gewässern in der Region investiert.
Nach dem Abschluss wird Perenco die Eigentumsrechte, den Betrieb und die Wiederherstellungspflichten der Vermögenswerte übernehmen. Die meisten Woodside-Mitarbeiter in Trinidad und Tobago werden voraussichtlich zu Perenco wechseln. Das Tiefwasserfeld Calypso ist nicht Teil dieser Transaktion.
- Sale proceeds of $206 million providing immediate cash flow for investments and shareholder distributions
- Transfer of restoration obligations to Perenco reduces future liabilities
- Strategic portfolio optimization aligning with company's core priorities
- Loss of assets producing 12% of Trinidad and Tobago's gas supply
- Reduction in geographical diversification and production capacity
Insights
Woodside's $206 million divestment of its Greater Angostura assets represents a strategic portfolio optimization move that should be viewed as marginally positive for the company. While the transaction value is relatively small at less than 1% of Woodside's $27.6 billion market capitalization, the strategic implications are noteworthy.
The deal accomplishes several objectives: it generates immediate cash flow for reinvestment into core priorities, transfers future restoration liabilities to Perenco, and continues the company's portfolio simplification strategy that began with December's Australian asset swap. This selective divestment approach – selling mature shallow water assets while retaining the potentially higher-growth deepwater Calypso field – indicates disciplined capital allocation.
Particularly significant is the transfer of environmental restoration obligations to Perenco, which removes future liabilities from Woodside's balance sheet. The retroactive effective date (January 1, 2025) means Perenco assumes economic benefits and costs for most of 2025 despite the Q3 closing timeline.
The Greater Angostura assets, while historically productive (generating over $2 billion in taxes and $1 billion in capital development), likely no longer represent core strategic assets for Woodside's future growth. This transaction allows management to redeploy capital toward higher-priority investments while maintaining presence in Trinidad and Tobago through the Calypso field development.
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.1
Woodside CEO Meg O’Neill said the development of Greater Angostura was made possible by the support of the Government of
“Greater Angostura has been a valuable contributor to the economy of
“As a result of operations over the past two decades, Woodside has paid more than
“The Greater Angostura field produces approximately
“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.
“This transaction is another demonstration of Woodside’s disciplined approach to portfolio management and optimisation, aimed at delivering sustainable returns to shareholders over the long term.”
Transaction details
The transaction is expected to close in the third quarter of 2025 with an effective date of 1 January 2025. Completion of the transaction is subject to customary conditions precedent, including joint venture, government and regulatory approvals.
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. Perenco will also be responsible for all restoration obligations in relation to the Greater Angostura assets. Woodside expects most of its employees based in
The transaction does not include the deepwater Calypso field. Woodside will continue to work with the Government of
About Woodside
Woodside is a global energy company. Driven by a spirit of innovation and determination, we established the liquefied natural gas industry in
About Perenco
Founded thirty years ago, Perenco is an independent hydrocarbon producer involved in the entire lifecycle of projects, from exploration to decommissioning. Gross production is around 500,000 boe/d. Perenco, which is based in the
This announcement was approved and authorised for release by Woodside’s Disclosure Committee.
Forward-looking statements
This announcement contains forward-looking statements with respect to Woodside's business and operations, market conditions, results of operations and financial condition, including, for example, but not limited to, statements regarding the transaction (including statements concerning the timing and completion of the transaction, the expected benefits of the transaction and other future arrangements between Woodside and Perenco), the timing of completion of Woodside's projects and expectations regarding future expenditures and future results of projects. All forward-looking statements contained in this announcement reflect Woodside's views held as at the date of this announcement. All statements, other than statements of historical or present facts, are forward-looking statements and generally may be identified by the use of forward-looking words such as 'guidance', 'foresee', 'likely', 'potential', 'anticipate', 'believe', 'aim', 'estimate', 'expect', 'intend', 'may', 'target', 'plan', 'forecast', 'project', 'schedule', 'will', 'should', 'seek' and other similar words or expressions.
Forward-looking statements in this announcement are not guidance, forecasts, guarantees or predictions of future events or performance, but are in the nature of aspirational targets that Woodside has set for itself and its management of the business. Those statements and any assumptions on which they are based are only opinions, are subject to change without notice and are subject to inherent known and unknown risks, uncertainties, assumptions and other factors, many of which are beyond the control of Woodside, its related bodies corporate and their respective officers, directors, employees, advisers or representatives.
Details of the key risks relating to Woodside and its business can be found in the "Risk" section of Woodside's most recent Annual Report released to the Australian Securities Exchange and Woodside's most recent Annual Report on Form 20-F filed with the United States Securities and Exchange Commission and available on the Woodside website at https://www.woodside.com/investors/reports-investor-briefings. You should review and have regard to these risks when considering the information contained in this announcement.
Investors are strongly cautioned not to place undue reliance on any forward-looking statements. Actual results or performance may vary materially from those expressed in, or implied by, any forward-looking statements.
All information included in this announcement, including any forward-looking statements, speak only as of the date of this announcement and, except as required by law or regulation, Woodside does not undertake to update or revise any information or forward-looking statements contained in this announcement, whether as a result of new information, future events, or otherwise.
1 See “Woodside simplifies portfolio and unlocks long-term value” announced 19 December 2024 for details. Completion of the transaction is expected to occur in 2026.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250327781598/en/
INVESTORS
Marcela Louzada
M: +61 456 994 243
E: investor@woodside.com
MEDIA
Christine Forster
M: +61 484 112 469
E: christine.forster@woodside.com
Source: Woodside
FAQ
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