Shell Offshore Inc., a subsidiary of Shell plc, has acquired the 20% working interest of MOEX North America LLC, a subsidiary of Mitsui & Co. Ltd., in Kaikias field in the US Gulf of Mexico. Shell now holds 100% interest and remains as operator. A purchase price was not disclosed.
The Kaikias development, in 4,500 ft of water, sends production to the nearby Shell-operated Ursa tension leg platform. The field is estimated to contain more than 100 MMboe recoverable resource. Average peak production is 40,000 boe/d, according to Shell.
The development, in 4,500 ft of water, sends production from its four wells to the Shell-operated (45%) Ursa hub, which is co-owned by BP PLC (23%), ExxonMobil Corp. (16%), and ConocoPhillips (16%). From the Ursa hub, volumes ultimately flow into the Mars oil pipeline.
MOEX NA acquired its 20% interest in Kaikias field in December 2016 (OGJ Online, Dec. 6, 2016). Following the deal’s close, Mitsui will dissolve and liquidate MOEX NA and it will no longer be a designated consolidated subsidiary.
Shell discovered Kaikias field, which lies in the Mars-Ursa basin about 130 miles from the Louisiana coast, in 2014. Production began in May 2018 (OGJ Online, May 31, 2018).
