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BP is tak­ing full con­trol of one of Trinidad and To­ba­go’s largest, un­de­vel­oped off­shore gas dis­cov­er­ies, a move en­er­gy ex­perts say could ac­cel­er­ate de­vel­op­ment of a project ex­pect­ed to strength­en the coun­try’s long-term gas sup­ply and ex­port ca­pac­i­ty.

The Lon­don-head­quar­tered, multi­na­tion­al en­er­gy gi­ant yes­ter­day agreed to ac­quire Wood­side En­er­gy’s 70 per cent in­ter­est in Block TTDAA 14, giv­ing BP 100 per cent own­er­ship of the Ca­lyp­so gas project and op­er­a­tor­ship once the trans­ac­tion re­ceives reg­u­la­to­ry and Gov­ern­ment ap­proval. The deal is ex­pect­ed to close by the end of 2026.