Tullow Oil to sell North Sea gas unit to ENI

LONDON (Reuters) - Oil explorer Tullow Oil (TLW.L) said it has signed a memorandum of understanding (MoU) with ENI (ENI.MI) to sell its 51.69 percent interest in the offshore Hewett Unit gas fields in the Southern North Sea.

The London-based company said on Tuesday ENI will pay 210 million pounds for the interest, which includes related infrastructure such as an onshore terminal.

"The sale of Hewett completes the restructuring of Tullow's Southern North Sea interests and will free up capital for further investment in the region and across the group," Tullow said in a statement.

Separately, the company said it had favourable well test results in its Mhogany-2 well, which is being drilled to appraise its Jubilee oil and gas offshore field in Ghana.

(Reporting by Marc Roca)