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.