BP To Acquires 70% Stake In Calypso Offshore Project That It Doesn't Already Own From Woodside; Financial Terms Not Disclosed
Woodside has entered an agreement to sell its 70% operated interest in production sharing contract TTDAA 14 (‘Calypso Project’) in Trinidad and Tobago to bp.bp currently holds the remaining 30% interest in the project
BP is buying a bigger piece of an oil project in Trinidad and Tobago, growing from owning 30% to owning 100%. When a company buys more of something it already owns a piece of, it usually means it thinks that project will be valuable.
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Source: Benzinga · Read the original report at the publisher. Headline and figures shown for context; data may be delayed.
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