Shell subsidiary Shell Offshore has acquired MOEX North America’s 20% WI in the Kaikias field.

The financial terms of the transaction were not disclosed.

Shell now owns a 100% WI stake in the Kaikias field, a deep-water project in the US Gulf of Mexico.

The field was discovered by Shell in 2014 and production began in 2018.

Situated nearly 210km from the coast of Louisiana, the field is part of the Mars-Ursa basin and it is connected to the neighbouring Ursa production hub with a submerged tieback.

With the US Gulf of Mexico having one of the lowest greenhouse gas (GHG) intensities for oil production worldwide, Shell said the acquisition highlights its commitment to producing from the region.

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By GlobalData

The deal is subject to approval from regulators.

Shell executive vice-president for deep water Rich Howe said: “Since its discovery, the Kaikias field has been a productive investment. 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.”

Earlier this week, Shell announced the final investment decision (FID) to boost production at the Perdido platform, also in the Gulf of Mexico.

Following the FID, the UK-based oil and gas company plans to drill three wells in the ultra-deepwater Great White oilfield.

At maximum rates, the aggregate production from the three wells is expected to reach up to 22,000 barrels of oil equivalent per day when the project concludes in April 2025.

Shell Offshore holds a 33.34% WI in the Great White oilfield as the operator. Chevron USA and BP Exploration & Production are partners in the field, with 33.33% of WI each.