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TRITON

On 1st September 2018, Tailwind completed the purchase of Shell UK Limited, Shell EP Offshore Ventures Limited and Esso Exploration and Production UK Limited interests in the Triton Cluster. Tailwind intends to further develop the fields in conjunction with JV partners.

OVERVIEW

The Triton Area consists of six producing oil fields developed via common infrastructure in the UK Central North Sea, located approximately 190km east of Aberdeen in water depths of 90m. The six fields currently producing oil and gas via the Triton FPSO, are Bittern, Guillemot West & Guillemot Northwest, Gannet E, Clapham, Pict and Saxon. Dana Petroleum Limited ("Dana") and Waldorf Production UK Limited (''Waldorf'') are our partners in the Triton cluster. Dana currently operate the Triton FPSO along with the Clapham, Saxon, Pict and Guillemot West fields. Following the Tailwind transaction with Shell/Esso, Dana now also operate the Bittern field. Tailwind is operator of the Gannet E Field, with Dana as pipeline operator and Petrofac as well operator. Tailwind also operate the Belinda/Evelyn discoveries.

Triton FPSO

The Triton FPSO is the infrastructure and export hub for the Triton Area Fields. The vessel was a new-build double hull tanker fabricated in 1997. The Triton FPSO was installed in 2000 as a part of the combined development of the Bittern field, Guillemot West field and Guillemot Northwest field known as the "Triton Project".

Since it was developed, Dana (the operator) has carried out a number of initiatives focussed on integrity and reliability which has significantly improved the performance of the Triton FPSO. The successful execution of these maintenance activities ensures the Triton FPSO is able to accommodate future infill and tie-back opportunities. The operator is undertaking a life extension work program with the objective of ensuring operations up to and beyond 2030.

Triton Fields Overview

Bittern Field

The Bittern oil and gas field is located in Blocks 29/1a and 29/1b, 22km south-east of the Triton FPSO. The field was discovered in 1996 and has been developed through five production wells and two water injection wells via a subsea tie-back to the Triton FPSO. First production was in April 2000.

On the 1st of September 2018 Tailwind completed the Triton cluster acquisition from Shell and Exxon which included a 64.63% equity in the Bittern field in the UK Central North Sea. The field is now operated by Dana Petroleum with Tailwind supporting the operator by managing the subsurface work program.

A successful well intervention program was safely executed in 2019 leading to a significant increase in field production. Following detailed subsurface modelling studies a crestal infill well was drilled in Q4 2020. This was a side track of the abandoned B2 well and early results are encouraging.

ASSET LIFECYCLE

DISCOVERY

Decommissioning

KEY FACTS

Tailwind equity64.63%

Host facility Triton FPSO

OperatorDana Petroleum

Hydrocarbon phase Oil and gas

projects
B4y well intervention (2019)

2 well interventions (2020)

B2z sidetrack (2020)