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According to a report from the OE website on May 24, the British oil company Tailwind has agreed to sell all its mining interests in the British offshore Conwy oil field to the Italian oil giant Eni.
Tailwind said on Friday that Conway has a good safety and production record under Tailwind, but now the asset is more suitable for Eni UK’s Liverpool Bay business.
Tailwind owns 100% of Conway’s operating shares as part of its 2018 acquisition of EOG UK Resources.
After obtaining all necessary regulatory approvals, the transaction will take effect on July 1, 2021.
Tailwind did not disclose the value of the deal.
Conway Oilfield is located in the eastern waters of Ireland and exports reservoir fluids to Douglas through submarine pipelines.
The Kangwei Oilfield was discovered in 2009 and developed through a "non-permanent installation" ("NPAI"), which has 3 platform production wells, water injection wells and 1 condensate oil injection well.
Hao Fen translated from OE
The original text is as follows:
UK: Eni to Buy Conwy Offshore Field from Tailwind Energy
UK-focused oil company Tailwind has agreed to sell its entire working interest in the Conwy field, offshore the UK, to the Italian oil giant Eni.
"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," Tailwind said Friday.
Tailwind owns a 100 percent operated stake in Conwy, which it purchased as part of its 2018 acquisition of EOG Resources UK.
Subject to receiving all the necessary regulatory approval, the transaction will take effect on July 1, 2021.
Tailwind did not say how much the deal was valued.
The Conwy field is located in the East Irish Sea and exports reservoir fluids via a subsea pipeline to Douglas.
Conwy was discovered in 2009 and was developed via a Not Permanently Attended Installation ('NPAI') with three platform production wells, water injection well, and one condensate injection well.
