Shell to start new GoM production

Royal Dutch Shell announced May 31 that it will start production in the Kaikias field of the Gulf of Mexico about one year ahead of schedule. Production from the subsea deep-water development, which will reach 40,000 barrels of oil equivalent per day, comes after Shell reduced its costs by nearly 30 percent to allow it to generate profit at less than $30 a barrel, the company said. Kaikias is located about 130 miles off the Louisiana coast in the Mars-Ursa basin. (Source: Marine Link 05/31/18)