Monday 3 September 2018

Tailwind Energy Ltd announced the completion of the acquisition of interests in the Triton Cluster from Shell UK Limited, Shell EP Offshore Ventures Limited and Esso Exploration and Production UK Limited.

In December 2017, Tailwind Energy Ltd signed an agreement with Shell UK Limited, Shell EP Offshore Ventures Limited and Esso Exploration and Production UK Limited to acquire their interests in the Triton Cluster, which Tailwind intended to further develop. The Triton Cluster, located in the UK Central North Sea 190km east of Aberdeen, was initially brought into production in 2000. The deal was subject to regulatory and partner approvals and was expected to complete in the first half of 2018. No staff were to be transferred as part of the transaction.

Tailwind Energy Ltd is an oil and gas company focused on acquiring and investing in United Kingdom Continental Shelf (UKCS) assets. Tailwind is being supported by Mercuria, one of the largest privately-held commodities and energy groups. Mercuria will provide Tailwind with a fully integrated capital and crude oil marketing solution.