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BP (NYSE:BP) is poised for a momentous milestone with the Calypso deepwater natural gas field, situated offshore Trinidad and Tobago in partnership with Woodside Energy (WDS). An executive of the company has indicated that the project’s final investment decision (FID) could be greenlit as soon as 2025, as reported by Reuters on Tuesday.
Previously, BP (BP), holding a 30% stake in the Calypso discoveries with an estimated 3.5 trillion cubic feet of gas, had projected the FID possibly being made in 2026.
“They are working through the capital value process, gradually increasing engineering, selecting concepts, and moving towards a final investment decision, which I hope will come in the next year or two,” explained David Campbell, the head of BP’s (BP) operations in Trinidad and Tobago, in an interview with Reuters.
Woodside (WDS), the operator of Calypso, remains proactive in advancing the project and expresses confidence in unlocking the deepwater potential in Trinidad, as affirmed by project director Stacy Patrick.
Highlighting the significance of deepwater prospects in Trinidad, Campbell emphasized BP’s (BP) substantial discoveries, including over 20 trillion cubic feet of gas and 1 billion barrels of oil in the Columbus Basin off the southeastern coast of Trinidad, near Venezuela.
