Shell announced Dec. 13 it now holds 100% interest in its operated Kaikias Field in the Gulf of Mexico after acquiring 20% interest from Mitsui & Co., Ltd. subsidiary MOEX North America LLC. Financial terms of the transaction were not disclosed.

The deepwater Kaikias Field produces to the Ursa production hub via a subsea tieback. Shell discovered the field in 2014, and production began in 2018.

“Since its discovery, the Kaikias Field has been a productive investment,” Rich Howe, Shell’s executive vice president for deep water, said in a press release. “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.”

Shell and MOEX will submit the deal for federal regulatory approval.