Offshore Energy Lease Sale Announced by US Administration

Press Release
Monday, July 23, 2012

Obama Administration announces 20-million acre oil & gas lease sale offshore Texas

As part of President Obama’s all-of-the-above energy strategy to expand safe and responsible domestic energy production, Secretary of the Interior Ken Salazar and Bureau of Ocean Energy Management (BOEM) Director Tommy P. Beaudreau announce that BOEM will offer more than 20 million acres offshore Texas for oil and gas exploration and development in a lease sale that will include all available unleased areas in the Western Gulf of Mexico Planning Area.

Proposed Western Gulf of Mexico Lease Sale 229, scheduled to take place in New Orleans on November 28, 2012, will be the first offshore sale under the Administration’s new Outer Continental Shelf Oil and Gas Leasing Program for 2012-2017 (Five Year Program).

 Announced last month, the Five Year Program makes more than 75% of recoverable energy resources in our oceans available for exploration and development, consistent with President Obama’s commitment to continue to expand domestic energy production and reducing America’s dependence on foreign oil.


The sale will include approximately 3,800 blocks, covering roughly 20.5 million acres, located from nine to 250 miles offshore, in water depths ranging from 16 to more than 10,975 feet (5 to 3,346 meters). BOEM estimates the proposed lease sale could result in the production of 116 to 200 million barrels of oil and 538 to 938 billion cubic feet of natural gas.

“This lease sale will make available millions of acres in the Gulf of Mexico, where there are vast untapped oil and gas resources and industry is working hard to expand oil and gas exploration and development,” said BOEM Director Beaudreau. “This sale is part of the regionally tailored approach that we are taking under the Five Year Program, which is central to the balanced, all-of-the-above strategy we need to meet the nation’s energy needs.”

The Proposed Notice of Sale information package, is available here.
 

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter June 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

Norwegian Unions Say 755 O&G Workers Could Strike

About 755 Norwegian workers on seven oil and gas fields could go on strike from Saturday, hitting output from western Europe's top producer, if a new wage deal is not agreed before a Friday deadline,

POSH Bags Shell FLNG Contract

Singapore’s offshore marine services provider PACC Offshore Services Holdings Ltd. (POSH) has been awarded a contract to support Shell’s Prelude floating liquefied

US Oil Drillers Cut Rigs after 3 Weeks of Additions

U.S. oil drillers cut rigs this week for a 20th week this year after three weeks of additions, according to a closely followed report on Friday, as crude prices

Energy

Norwegian Unions Say 755 O&G Workers Could Strike

About 755 Norwegian workers on seven oil and gas fields could go on strike from Saturday, hitting output from western Europe's top producer, if a new wage deal is not agreed before a Friday deadline,

Essar's Terminal at Kandla Port crosses 100 mi tonne throughput

The marine terminal of Vadinar Oil Terminal Ltd (VOTL), which is part of Essar Ports Ltd, has been the best performing terminal in the Kandla Port Trust (KPT) for two consecutive years.

VEB Guarantees $3 Bln of Yamal LNG Debt

Russian development bank VEB said on Friday it had provided a guarantee for $3 billion of debt to the Yamal liquefied natural gas (LNG) project, led by Russian gas firm Novatek.

Government Update

Morocco Sells 40% Stake in Port Operator in IPO

The Moroccan government raised 1.94 billion dirhams ($197 million) by selling a 40 percent stake in state-owned port operator Marsa Maroc in the country's first initial public offering this year,

Panama Opens Canal Extension Amid Risk, Cost Issues

Panama opened the long-delayed $5.4 billion expansion of its shipping canal amid cheering crowds on Sunday, despite looming economic uncertainty in the shipping

Indonesia Bans Ships for Philippines

The Indonesian Government has banned vessels flying Indonesias flag from sailing to the Philippines following the latest hostage incident.   According to a report in AP,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Navigation Offshore Oil Port Authority Salvage Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0901 sec (11 req/sec)