Perenco to acquire asset package from bpTT offshore Trinidad and Tobago

Perenco T&T, part of the Perenco Group, has agreed to acquire a package of mature gas fields plus undeveloped resources from another field, all offshore Trinidad and Tobago, from bp Trinidad and Tobago (bpTT).

With the deal, Perenco will acquire Immortelle, Flamboyant, Amherstia, and Cashima offshore gas fields and associated production infrastructure as well as undeveloped resources from Parang field.

bpTT operates, and currently is the sole owner in each of the assets included in the agreement. The company said divesting the assets will ‘high-grade’ the company’s portfolio in Trinidad and Tobago as it focuses on developing its shallow water gas portfolio “and pursuing growth opportunities with both deep water and cross-border gas resources” as part of its goal to accelerate gas production, said bpTT president David Campbell.

Except for Parang, the mature fields have been in production from as early as 1993 and currently produce a total of 30,000 boe/d, bpTT said in a release Sept. 3.

As part of the deal, bpTT will purchase the gas produced from the fields to continue to meet its existing contractual obligations.

 bpTT will continue to operate the assets for a transition period at the end of which ownership and operatorship of the assets will be transferred to Perenco T&T. The transaction is expected to close by yearend.

 Perenco T&T has been producing hydrocarbons in Trinidad & Tobago since 2016, when it took over operatorship of Teak, Samaan, and Poui (TSP) fields offshore the southeast coast of Trinidad.