Calypso is an early-stage deepwater natural gas project offshore Trinidad and Tobago, where bp has an established business and extensive oil and gas infrastructure. bp is the largest supplier of gas to the domestic market and has a 45% stake in the Atlantic LNG facility off Trinidad’s southwest coast.

“By building on the strengths of our existing operations and infrastructure, we have the potential to unlock new production and support long-term growth in the region,” said Gordon Birrell, bp’s Executive Vice President, Upstream.

The transaction is expected to close by the end of 2026 and is subject to approval by the government and regulators.