Shell to acquire the 20% stake in the Kaikias Oil Field from Mitsui & Co.

Shell, a multinational oil and gas company, agreed to acquire the 20% stake in the Kaikias Oil Field from Mitsui & Co, a sogo shosha in Japan. Financial terms were not disclosed. Mitsui acquired 20% of the interest in the Kaikias field in December 2016 and has been continuing production activities together with Shell since May 2018. This divestment is to be carried out as part of Mitsui's strategy to reconfigure its business portfolio.