TEXAS, USA – Shell Offshore Inc., a subsidiary of Shell plc (Shell), has acquired the 20 percent Working Interest (WI) of MOEX North America LLC (MOEX), a 100 percent subsidiary of Mitsui & Co., Ltd., in the Kaikias field in the US Gulf of Mexico. Shell now has 100 percent WI and remains the operator.
“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 US Gulf of Mexico.”
This investment underscores Shell’s long-term commitment to the US Gulf of Mexico, where production is essential to ensuring a reliable and secure supply of energy. Additionally, production in the US 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.
- The Kaikias field in the US 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.
- The reference to Shell’s US Gulf of Mexico production being among the lowest GHG intensity in the world is a comparison among other IOGP oil-and gas-producing members.
- Shell is the leading operator in the US Gulf of Mexico for oil and gas production.