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.