By: Inspenet, October 24, 2022
The United States Department of the Interior has proposed the sale of leases in the Gulf of Mexico by 2023. Thus, offshore oil and gas producers will be able to bid for extensions in place on March 29, 2023.
In the Gulf of Mexico area, crude oil production averaged 1.7 million b/d last year.
The sale of offshore leases is one of the actions required by the recently enacted Inflation Reduction Law. In this way, the agency proposed to offer the entire non-leased surface, which according to previous documents will cover some 340,000 km².
According to World Energy Trade, the sale of leases will charge a royalty of 18.75% regardless of the depth of the water, a change that the Democrats included as part of the law.
In recent years, the United States has applied a reduced royalty of 12.5 percentage points on shallow water leases, in an attempt to encourage production.
US oil industry groups support the lease sale, the first in the Gulf of Mexico since the one in November 2021.
This material from rumbominero.com was edited for clarity, style and length.
Source : https://www.rumbominero.com/usa-internacionales/arrendamientos-blocks-hydrocarburos-golfo-mexico/
Photo: ShutterStock
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