Tailwind has signed an agreement to sell the entire stake in the Conwy field, which is in the East Irish Sea, to Eni UK.
Located within Block 110/12a, the Conwy field is a tie-back to the Eni-operated Douglas Field installation located in adjacent block 110/13b.
UK oil and gas firm Tailwind secured 100% operated interest in the Conwy field as part of the acquisition of EOG Resources UK. The acquisition deal was closed in 2018.
In a press statement, Tailwind said: “Conwy has had an excellent safety and production record under Tailwind ownership but now the asset fits more readily into Eni UK’s Liverpool bay operation.”
Subject to regulatory approvals, the transaction will be effective from 1 July 2021.
The financial terms of the deal between Tailwind and Eni were not disclosed.
Discovered in 2009, the Conwy field exports reservoir fluids via a subsea pipeline to Douglas Complex.
The field was developed via a not permanently attended installation with three platform production wells, a water injection well and one condensate injection well.
Earlier this year, Tailwind secured development plan approval from the UK Oil and Gas Authority (OGA) for the Evelyn field in the UK Central North Sea.
The Evelyn field is planned to be developed initially as a one-well subsea tieback to the Triton floating production storage and offloading (FPSO).
The first production from the field is expected in the fourth quarter of 2022.
Last year, Eni UK secured a carbon dioxide (CO₂) appraisal and storage licence (CS licence) from the OGA.
The CS licence allows Eni to reuse and repurpose depleted hydrocarbon reservoirs and related infrastructure to permanently store CO₂ captured in North West England and North Wales.