Shell strengthens its presence in the Gulf of Mexico with greater control over the Ursa platform

Shell consolidates its deepwater leadership by increasing its operating interest in the Ursa platform and associated assets.

Shell has completed the acquisition of an additional interest in the Ursa platform in the Gulf of Mexico, consolidating its position as a leader in offshore production. offshore production production in the region. With this transaction, the company increases its stake from 45.39% to 61.35% in the asset operated by Shell Offshore Inc. and Shell Pipeline Company (SPLC).

Strategy to strengthen its upstream value chain

The increase in Ursa’s participation in Ursa represents a commitment to efficiency in hydrocarbon production and also responds to Shell’s global strategy of focusing on assets with high integrated value and low carbon cost.

The Ursa Tension-Leg Platform (TLP) is a critical infrastructure to guarantee a constant production of liquids from an area considered key for its profitability.

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Details of the transaction with ConocoPhillips

In addition to the increase in the platform, the transaction includes the transfer of an 11.81% interest in Ursa Oil Pipeline Company LLC, bringing SPLC’s control in the pipeline from 45.39% to 57.20%.

Also incorporated are a 1% interest in the Europa prospect and a 3.5% royalty on production (ORRI), assets also located in areas adjacent to Ursa.

Operational and strategic consolidation on the Ursa platform

Shell maintains its strategic focus on developing resources close to its existing facilities in the Gulf of Mexico. This policy has allowed it to optimize costs, take advantage of operating synergies and maintain solid production in deep waters, without compromising its profitability and energy competitiveness objectives.

Following the closing of this transaction, the Ursa platform is distributed among Shell (61.35%), BP Exploration & Production Inc. (22.69%) and ECP GOM III, LLC (15.96%). With this move, Shell reinforces its role as the main operator of one of the world’s offshore infrastructure infrastructure in the energy sector in the United States.

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Source and photo: Shell