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Shell Kaikias Oilfield In The Gulf Of Mexico Launched One Year In Advance

- Jun 05, 2018 -

According to Dow Jones News on May 31, Shell said on Thursday that the company's Kaikias Phase I development project in the US Gulf of Mexico has started production one year earlier than originally planned.

Shell said that the peak output of the Kaikias field is estimated to reach 40,000 barrels of oil equivalent per day. Shell holds 80% of operating rights.

Shell said that since the beginning of last year investment and construction, the company has reduced the cost of the project by 30% while reducing the breakeven oil price of the oil field to less than 30 US dollars/barrel.