MITSY Mitsui and Company Ltd (PK)

By Ben Glickman

Shell Offshore, a subsidiary of Shell, acquired the remaining 20% working interest in a Gulf-of-Mexico field it doesn't currently own.

The oil-and-gas giant now has 100% working interest in the Kaikias field in the U.S. Gulf of Mexico and remains the operator.

The field is owned by MOEX North America, a full subsidiary of Mitsui & Co.

"By increasing Shell's working interest in the field, we are creating options for our future as the leading producer in the U.S. Gulf of Mexico," said Rich Howe, executive vice president for deep water.

The company said Shell and MOEX would submit for federal regulatory approval.

Write to Ben Glickman at ben.glickman@wsj.com

(END) Dow Jones Newswires

December 13, 2023 17:11 ET (22:11 GMT)

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