15:58 GMT +314 November 2018
Listen Live
    The Chevron Genesis Oil Rig Platform is seen in the Gulf of Mexico near New Orleans, La.

    US Sets Oil, Gas Lease Auction for Gulf of Mexico in August

    © AP Photo / Mary Altaffer, file
    US
    Get short URL
    114

    WASHINGTON (Sputnik) - The United States will hold an oil- and natural-gas lease sale for the Gulf of Mexico next month, the US Department of the Interior announced in a press release.

    "The Bureau of Ocean Energy Management (BOEM) will offer approximately 78 million acres offshore Texas, Louisiana, Mississippi, Alabama and Florida for oil and gas exploration and development," the release stated on Thursday. "The region-wide lease sale scheduled for Aug. 15, 2018, includes all available unleased areas in federal waters of the Gulf of Mexico."

    The Department of Interior noted that the auction is expected to be livestreamed, and will become the third offshore sale under the National Outer Continental Shelf Oil and Gas Leasing Program for 2017-2022.

    "Under this program, ten region-wide lease sales are scheduled for the Gulf, where resource potential and industry interest are high, and oil and gas infrastructure is well established," the release added.

    The release explained that the lease sale will include some 14,622 unleased blocks, located from three to 231 miles offshore, in the Gulf’s Western, Central and Eastern planning areas.

    READ MORE: ExxonMobil Plans to Invest $20Bln in Gulf of Mexico Region Over Next Decade

    The BOEM estimates that the Gulf of Mexico outer continental shelf, covering about 160 million acres, has technically recoverable resources of over 48 billion barrels of oil and 141 trillion cubic feet of gas, the release said.

    The Trump administration has announced plans to open nearly all of American waters off the Atlantic, Pacific and Arctic coasts to energy exploration and drilling.

    Related:

    30 Energy Companies Submit $179 Million Worth of Bids for Gulf of Mexico
    Shell Sells Two Assets in Gulf of Mexico Worth $425Mln - Press Service
    US Offers Over 48Mln Acres in Gulf of Mexico for Offshore Drilling
    Tags:
    energy, oil, Gulf of Mexico, United States
    Community standardsDiscussion
    Comment via FacebookComment via Sputnik