Shell takes over 100% of US Gulf of Mexico’s Kaikias field

By Sabrina Valle

(Reuters) – Shell said on Wednesday said it had acquired the remaining 20% working interest in the Kaikias field in the U.S. Gulf of Mexico from MOEX North America (MOEX), a unit of Mitsui & Co.

Shell has been investing to increase production in the Gulf, where costs and carbon emission levels are lower relative to its portfolio.

The announcement comes one day after Shell made a final investment decision to boost production at another U.S. Gulf of Mexico project, Perdido, starting in April 2025.

Shell now has a 100% working interest and remains the operator of the Kaikas, in the Mars-Ursa basin, approximately 130 miles (210 km) from the Louisiana coast, it said.

Kaikas production started in 2018, with three wells designed to produce up to 40,000 barrels of oil equivalent per day at peak rates at oil prices as low as $30 per barrel.

(Reporting by Sabrina Valle in Houston, Roshia Sabu; Editing by Shinjini Ganguli and Jonathan Oatis)