Energy News Beat
(WO) − Shell Offshore Inc., a subsidiary of Shell plc, has acquired the 20% Working Interest (WI) of MOEX North America LLC, a 100% subsidiary of Mitsui & Co., Ltd., in the Kaikias field in the U.S. Gulf of Mexico. Shell now has 100% WI and remains the operator.
The Kaikias field in the U.S. Gulf of Mexico is a deep-water project that uses a subsea tieback to the nearby Ursa production hub. Shell discovered the Kaikias field in 2014. The field is located in the prolific Mars-Ursa basin, approximately 130 miles from the Louisiana coast. Production began in May 2018
“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.”
This investment underscores Shell’s long-term commitment to the U.S. Gulf of Mexico, where production is essential to ensuring a reliable and secure supply of energy. Additionally, production in the U.S. Gulf of Mexico has among the lowest greenhouse gas (GHG) intensity for scope 1 and 2 in the world.
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