Shell plc (SHEL), Tuesday announced that its subsidiary Shell Offshore Inc. has taken a final investment decision (FID) on a waterflood project at its Kaikias field in the US Gulf of America.
The latest investment aims to maximize high-margin production and longevity in a core basin to maintain liquids production.
Under this decision, water will be injected to displace additional oil in the reservoir formation which supplies production to Shell's Ursa platform in the Mars Corridor.
Currently, SHEL is trading at $70.29, down 2.68 percent on the New York Stock Exchange.
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May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.