Minerals

The Interior Department’s Minerals Management Service (MMS) hasannounced that the OCS Lease Sale 178 planned for the central Gulfof Mexico will offer producers a mix of incentives to encourageultra-deep-water exploration and development for both natural gasand crude oil.

The Interior Department’s Minerals Management Service (MMS) hasannounced that the OCS Lease Sale 178 planned for the central Gulfof Mexico will offer producers a mix of incentives to encourageultra-deep-water exploration and development for both natural gasand crude oil.

Success in deepwater exploration in the Gulf of Mexico improvedthe outlook for both oil and natural gas resources, according to anupdated report by the Minerals Management Service. The 2000 MMSresource assessment now indicates that there is a 65% increase inconventional recoverable oil reserves and a 35% increase in naturalgas on the outer continental shelf.

Success in deepwater exploration in the Gulf of Mexico improvedthe outlook for both oil and natural gas resources, according to anupdated report by the Minerals Management Service. The 2000 MMSresource assessment now indicates that there is a 65% increase inconventional recoverable oil reserves and a 35% increase in naturalgas on the outer continental shelf.

The Department of Interior’s Minerals Management Service (MMS)must carefully examine the option of including promising areas inits new 5-year leasing plan that have been subject to moratoria inthe past, the National Ocean Industries Association (NOIA) said.

The Minerals Management Service (MMS) is starting to prepare fora new five-year Outer Continental Shelf oil and gas leasing programto run from 2002-2007. The agency has asked for input frominterested and affected parties.

The Minerals Management Service has scheduled its only EasternGulf of Mexico sale in its current five-year leasing plan — andthe first proposed sale in the eastern section of the Gulf in morethan 12 years. Proposed lease sale 181, scheduled December 2001,would include 1,033 blocks covering 5,949 million acres — about8% of the total area in the Eastern Gulf Planning Area.

The Minerals Management Service has scheduled its only Eastern Gulf of Mexico sale in its current five-year leasing plan – and the first proposed sale in the eastern section of the Gulf in more than 12 years. Proposed lease sale 181, scheduled December 2001, would include 1,033 blocks covering 5,949 million acres – about 8% of the total area in the Eastern Gulf Planning Area.

New initiatives proposed by the Minerals Management Servicecould contribute an additional 500 Bcf to 1 Tcf/year of gasproduction between 2004 and 2006, according to MMS Director WaltRosenbusch.