Deal Insight
Deepwater GoM remains afloat: Mitsui acquires 20% interest in Kaikias from Shell
Report summary
Mitsui & Co is buying a 20% stake in the Kaikias and Circius assets from Shell for an undisclosed sum. Kaikias will be Mitsui's sole asset in the deepwater Gulf of Mexico. Shell maintains an 80% interest and operatorship of both assets. Kaikias is a medium-sized, Subsalt Miocene oil field located near Shell's Mars and Ursa projects. We estimate reserves at 147 mmboe and a point-forward Brent breakeven of US$37/bbl, (NPV10). The project will be developed as a subsea tie-back with final investment decision (FID) expected in 2017 and first oil in 2019. Circius is an undrilled prospect in a neighbouring block.
Table of contents
- Executive summary
- Transaction details
- Upstream assets
- Deal analysis
- Upsides and risks
- Strategic rationale
- Oil & gas pricing and assumptions
Tables and charts
This report includes 6 images and tables including:
- Executive summary: Table 1
- Upstream assets: Table 1
- Deal analysis: Table 1
- Deal analysis: Table 2
- Oil & gas pricing and assumptions: Table 1
- Oil & gas pricing and assumptions: Table 2
What's included
This report contains:
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