The Bureau of Ocean Energy Management (BOEM) announced that it will hold an oil and gas lease sale for the Gulf of Mexico on Nov. 17, in compliance with court orders. The Biden administration is continuing its review of the deficiencies associated with its offshore and onshore O&G gas leasing programs. Lease Sale 257, scheduled to be livestreamed from New Orleans, will be the eighth offshore sale under the 2017-22 Outer Continental Shelf (OCS) Oil and Gas Leasing Program. Lease Sale 257 will include about 15,135 unleased blocks located from three to 231 miles offshore in the GoM with water depths ranging from nine to more than 11,115 feet. Among the blocks excluded from the lease sale are those subject to a congressional moratorium established by the GoM Energy Security Act of 2006. The Gulf of Mexico OCS, covering about 160M acres, is estimated to contain about 48B barrels of undiscovered technically recoverable oil and 141T cubic feet of undiscovered technically recoverable gas. (Source: Work Boat 09/30/21)
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