Central Gulf Sale Reinforces Positive Trend

For Immediate Release: Wednesday, March 20, 2013

Contact: Nicolette Nye, (703) 732-0801, nicolette@nullnoia.org

 

Central Gulf Sale Reinforces Positive Trend

Confirms Industry’s Continued Commitment to Domestic Exploration and Production

Washington, D.C. – National Ocean Industries Association (NOIA) President Randall Luthi today issued the following statement regarding interest in today’s Central Gulf of Mexico Lease Sale 227:

“The enthusiasm evident in today’s sale confirms a continuing positive trend for the offshore industry in the Gulf of Mexico.  There was some pent up interest in the last Central Gulf Sale, so this sale is a more accurate barometer of their true interest in the region.

Today, industry stepped up to the plate once again providing over a billion dollars in revenue to the federal government through bonus bids.  Once bids are accepted, the oil and natural gas industry pays annual rents while exploring and developing the lease, then royalties on future production.  The economic benefit from today’s lease sale doesn’t end with just a dollar sign; it further ensures increased jobs, increased energy security and increased energy reliability throughout the United States.

This sale also serves as a reminder that offshore oil and natural gas are a vital part of an ‘all of the above energy strategy.’  NOIA believes that this ‘all of the above’ strategy should apply to more than the limited areas where exploration is currently allowed. We will continue to advocate for greater access to the 85 percent of the outer continental shelf that remains closed under the current offshore leasing plan and where the lack of modern seismic data leaves us guessing as to its true resource potential. Opening new offshore areas will open the door to new jobs, energy, and even more revenue to the federal treasury which could be used to help reduce the federal deficit.”

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ABOUT NOIA
NOIA is the only national trade association representing all segments of the offshore industry with an interest in the exploration and production of both traditional and renewable energy resources on the nation’s outer continental shelf.  NOIA’s mission is to secure reliable access and a fair regulatory and economic environment for the companies that develop the nation’s valuable offshore energy resources in an environmentally responsible manner. The NOIA membership comprises more than 275 companies engaged in business activities ranging from producing to drilling, engineering to marine and air transport, offshore construction to equipment manufacture and supply, telecommunications to finance and insurance, and renewable energy.