Perenco is pleased to announce the acquisition of a 70% interest in the Teak, Samaan and Poui Block (“TSP”) in Trinidad and Tobago. The interest in the fields, located offshore south east of Trinidad, has been bought from Repsol E&P T&T Ltd, a subsidiary of Repsol SA, the Spanish integrated global energy company. Perenco will be operator of the TSP assets, where current production is in the region of 14 000 bopd barrels of oil equivalent per day.

The capacity of Perenco to operate mature fields and enhance economical production in a low oil price environment was well received by the local authorities and the TSP Partners. The completion of this acquisition opens the door to future collaborations and opportunities in Trinidad & Tobago.

Commenting on today’s announcement, Perenco’s CEO, Benoît de la Fouchardiere, said:

“We are very pleased to be entering Trinidad & Tobago with the acquisition of a 70% interest in the Teak, Samaan and Poui fields. Maintaining production from ageing assets is a core Perenco competence, and this transaction highlights Perenco’s delivery of our operator led strategy. We look forward to a long partnership with Trinidad & Tobago and welcome the former Repsol employees to Perenco.”

About Perenco

Perenco is a leading independent Oil & Gas Company operating in 13 countries across the globe, ranging from Northern Europe to Africa and from Latin America to Southeast Asia. Perenco is operating both onshore and offshore.