Supermajor Shell reports it now has 100% working interest in the Kaikias field in the U.S. Gulf of Mexico after acquiring a 20% stake from Mitsui's MOEX North America.
The field Kaikias, located in the prolific Mars-Ursa basin, approximately 130 miles from the Louisiana coast, was discovered by Shell in 2014. Production began in May 2018. The deepwater project uses a subsea tieback to the nearby Ursa production hub.
"Since its discovery, the Kaikias field has been a productive investment," said Rich Howe, Shell's Executive Vice President for Deep Water. "By increasing Shell's working interest in the field, we are creating options for our future as the leading producer in the U.S. Gulf of Mexico."
Shell, the U.S. Gulf of Mexico's leading oil and gas producer. said the investment underscores its long-term commitment to the region, noting the U.S. Gulf of Mexico has among the lowest greenhouse gas (GHG) intensity for scope 1 and 2 in the world.
Shell and MOEX will submit for federal regulatory approval.