Shell announced Dec. 13 it now holds 100% interest in its operated Kaikias Field in the Gulf of Mexico after acquiring 20% interest from Mitsui & Co., Ltd. subsidiary MOEX North America LLC. Financial terms of the transaction were not disclosed.
The deepwater Kaikias Field produces to the Ursa production hub via a subsea tieback. Shell discovered the field in 2014, and production began in 2018.
“Since its discovery, the Kaikias Field has been a productive investment,” Rich Howe, Shell’s executive vice president for deep water, said in a press release. “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 and MOEX will submit the deal for federal regulatory approval.
Recommended Reading
TGS Starts Up Multiclient Wind, Metaocean North Sea Campaign
2024-05-07 - TGS is utilizing two laser imaging and ranging buoys to receive detailed wind measurements and metaocean data, with the goal of supporting decision-making in wind lease rounds in the German Bright.
Exclusive: Silixa’s Distributed Fiber Optics Solutions for E&Ps
2024-03-19 - Todd Chuckry, business development manager for Silixa, highlights the company's DScover and Carina platforms to help oil and gas operators fully understand their fiber optics treatments from start to finish in this Hart Energy Exclusive.
CERAWeek: AI, Energy Industry Meet at Scary but Exciting Crossroads
2024-03-19 - From optimizing assets to enabling interoperability, digital technology works best through collaboration.
Cyber-informed Engineering Can Fortify OT Security
2024-03-12 - Ransomware is still a top threat in cybersecurity even as hacktivist attacks trend up, and the oil and gas sector must address both to maintain operational security.
Forum Energy Signs MOU to Develop Electric ROV Thrusters
2024-03-13 - The electric thrusters for ROV systems will undergo extensive tests by Forum Energy Technologies and SAFEEN Survey & Subsea Services.