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
Sinopec Brings West Sichuan Gas Field Onstream
2024-03-14 - The 100 Bcm sour gas onshore field, West Sichuan Gas Field, is expected to produce 2 Bcm per year.
Proven Volumes at Aramco’s Jafurah Field Jump on New Booking Approach
2024-02-27 - Aramco’s addition of 15 Tcf of gas and 2 Bbbl of condensate brings Jafurah’s proven reserves up to 229 Tcf of gas and 75 Bbbl of condensate.
Electric Hype vs. Hydraulic Reality: Advantages of Traditional Systems
2024-05-07 - Castrol's new fluid prevents gas hydrates in deepwater control systems.
Halliburton’s Low-key M&A Strategy Remains Unchanged
2024-04-23 - Halliburton CEO Jeff Miller says expected organic growth generates more shareholder value than following consolidation trends, such as chief rival SLB’s plans to buy ChampionX.
Iraq to Seek Bids for Oil, Gas Contracts April 27
2024-04-18 - Iraq will auction 30 new oil and gas projects in two licensing rounds distributed across the country.