Shell Starts Up Production at Kaikias Subsea Development
Friday 1 June 2018
Production has commenced on the first phase of Kaikias, Shell's subsea development, one-year ahead of schedule with an estimated peak production of 40,000 barrels of oil equivalent per day (boe/d).
Shell reported it has reduced costs by around 30% at this deep-water project since taking the investment decision in early 2017, lowering the forward-looking, break-even price to less than $30 per barrel of oil.