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

A view shows a logo of Shell petrol station in South East London

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.

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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)