BAKU, Azerbaijan, May 2. Shell Offshore Inc. and Shell Pipeline Company (SPLC), subsidiaries of Shell plc, have finalized an agreement to increase their ownership in the Ursa platform in the Gulf of Mexico, Trend reports.
The move raises Shell’s working interest in the Ursa Tension-Leg Platform from 45.3884% to 61.3484%.
The transaction, previously announced, aligns with Shell’s strategy to invest in profitable oil and gas assets that offer competitive carbon performance and are integrated with existing infrastructure. According to the company, expanding its stake in operated assets helps support stable production from its Upstream portfolio.
Shell remains the operator of the Ursa platform, which is now co-owned with BP Exploration & Production Inc. (22.6916%) and ECP GOM III, LLC (15.96%).