BP (NYSE:BP) expects the Calypso deepwater natural gas field offshore Trinidad and Tobago, which it shares with Woodside Energy (WDS), to get the greenlight when a final investment decision comes as early as the end of 2025, a company executive told Reuters on Tuesday.
BP (BP), which owns a 30% stake in the Calypso discoveries that hold ~3.5T cf of gas, previously forecast the FID could be made in 2026.
“They are working through capital value process, so increasing engineering, gradually selecting concepts [and] moving towards a final investment decision, which I hope will come in the next year or two years,” David Campbell, head of BP’s (BP) Trinidad and Tobago operations, said in an interview.
Woodside (WDS), which operates Calypso, continues advancing the project and believes it can unlock the deepwater in Trinidad, project director Stacy Patrick said.
BP’s (BP) future in Trinidad is in the deepwater, Campbell said, noting the company has discovered more than 20T cf of gas and 1B barrels of oil in the Columbus basin off the southeastern coast of Trinidad near Venezuela.