The oil and gas company Perenco acquired 70% interest in the offshore oilfield blocks Teak, Samaan and Poui in Trinidad and Tobago by the Spanish energy giant Repsol E&P T&T. The Anglo-French oil and gas company will also become operator of the fields, which are located southeast off Trinidad and currently product 14,000 barrels per day. The financial details of the acquisition were not disclosed, but the transaction received approval from the local authorities and other partners into the oilfield blocks Teak, Samaan and Poui. The completion of this acquisition opens the door to future collaborations and opportunities in Trinidad and Tobago oil sector.

“We are very pleased to be entering Trinidad & Tobago with the acquisition of a 70% interest in the Teak, Samaan and Poui fields”, said the CEO of Perenco, Benoît de la Fouchardiere. “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”, added he.

Perenco is an independent Anglo-French oil and gas company with a headquarters in London and Paris. The company’s main interests previously have been in Europe’s North Sea, but also operating exploration and production activities in 16 countries around the world, including the North Sea, Cameroon, Gabon, Republic of Congo, Democratic Republic of Congo, Guatemala, Ecuador, Colombia, Peru, Venezuela, Brazil, Belize, Tunisia, Egypt, Turkey, Iraq, Vietnam. Perenco is involved in operations both onshore and offshore with production equal to approximately 250,000 barrels of oil equivalent per day.