MMS Issues Final Notice of Central Gulf Lease Sale 198

Wednesday, February 15, 2006
The Minerals Management Service (MMS) has announced the Final Notice of Lease Sale 198 for offshore oil and gas in the Central Gulf of Mexico (GOM). The lease sale is scheduled for March 15, 2006, in New Orleans. The lease sale encompasses 4,040 unleased blocks of approximately 21.3 million acres in the Outer Continental Shelf (OCS) Planning Area offshore Louisiana, Mississippi, and Alabama. The blocks are located from three to about 210 miles offshore in water depths of four to more than 3,400 meters. MMS estimates the lease sale could result in the production of between 276 to 654 million barrels of oil and 1.59 to 3.30 trillion cubic feet of natural gas. Certain provisions are new for lease sales in this region, including an increase in base rental rates that reflects inflationary adjustments, among others. In addition, new provisions are in place for this lease sale, including a modification to shallow-water deep gas royalty relief, as provided for in the Energy Policy Act of 2005, a lease stipulation resulting from an ongoing federally funded University of Mississippi study of gas hydrates, an earlier time deadline for Electronic Fund Transfer (EFT) of rental payments, and a continuation of other terms and conditions that were adopted in other recent lease sales. (Source: www.oilonline.com)
Maritime Reporter September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

Rederij Groen Takes Delivery of 7-Waves

Rederij Groen’s entire SRSV fleet built by Damen Maaskant Shipyards Stellendam. Dutch offshore services company Rederij Groen has taken delivery of the 7-Waves,

New Oil Field Found in British North Sea

GDF SUEZ E&P UK Ltd and BP today announced a new exploration discovery in the UK Central North Sea. The discovery, which spans GDF SUEZ operated block 30/1f

Three Dead in Offshore Platform Accident

Three workers were killed and one is still missing after an accident at one of the offshore oil and gas platforms in the Caspian Sea in Azerbaijan, Azeri state energy company SOCAR said on Thursday.

Casualties

USCG Monitoring Barge adrift in Beaufort Sea

U.S. Coast Guard personnel and Canadian federal agencies, including the Canadian coast guard, Transport Canada and Environment Canada, are monitoring a 134-foot

Three Dead in Offshore Platform Accident

Three workers were killed and one is still missing after an accident at one of the offshore oil and gas platforms in the Caspian Sea in Azerbaijan, Azeri state energy company SOCAR said on Thursday.

Documentary Examines Shipbreaking Practices in Bangladesh

Toxic ships for Bangladesh: TV documentary on German ship owners and their shipbreaking practices A new documentary titled "Giftiger Tankerschrott für Bangladesch

 
 
Maritime Security Naval Architecture Navigation Offshore Oil Port Authority Salvage Ship Electronics Ship Repair Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1107 sec (9 req/sec)