BP Near Deal to Sell Part of Trinidad Upstream Gas Assets to Perenco

Monday, 8 April 2024, 17:33

BP is on the brink of selling a portion of its Trinidad and Tobago oil and gas assets to Perenco amid dwindling output from declining fields. The potential deal marks a strategic move for BP to optimize its portfolio and focus on more lucrative ventures in the region.

https://store.livarava.com/65d0a02f-f5ce-11ee-897e-87cc5c87fb08.jpg — BP Near Deal to Sell Part of Trinidad Upstream Gas Assets to Perenco

Details of the Potential Deal

BP is reportedly finalizing negotiations to offload some of its gas assets in Trinidad and Tobago to Perenco, a significant player in the global energy sector.

Impact on Production

The sale is crucial for BP to address the decline in production of the underperforming fields.

This move signifies a shift in BP's strategic focus towards its more profitable ventures.
Perenco stands to benefit from acquiring these assets to boost its presence in the region.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.