Shell on Wednesday said it discovered 100 million barrels of oil equivalent in its Kaikias field, located 60 miles south of Louisiana in the Gulf of Mexico. Via FuelFix, it is nowhere near the size of some of Shell’s landmark gulf discoveries of years past, but its location near existing infrastructure makes it relatively inexpensive to develop. An analyst at IHS Energy notes that the discovery falls in line with Shell’s strategy of streamlined exploration amid low oil prices.
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