According to the news of Dow Jones on May 31, Shell said on Thursday that their company's Phase I development project of Kaikias 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 investment and construction started at the beginning of last year, the company has reduced the cost of the project by 30%, and at the same time reduced the break-even oil price of this oilfield to less than 30 US dollars per barrel.
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