For Immediate Release: Wednesday, November 19, 2014
Contact: Nicolette Nye, (202) 465-8463, email@example.com
New Studies Show Huge Economic and Energy Potential of Untapped Offshore Areas
Two new studies released today by the National Ocean Industries Association (NOIA) and the American Petroleum Institute (API) show significant potential added energy and economic benefits to the United States if the Eastern Gulf of Mexico and the Pacific outer continental shelf (OCS) were opened to offshore oil and natural gas development. Both studies were conducted by Quest Offshore Inc., which also conducted a study of the Atlantic OCS, which NOIA and API released last year.
“The U.S. oil and gas industry is already a major source of jobs, economic activity, revenue to state and federal governments, and affordable and reliable American energy for American consumers. We can do much more of the same with more access to the OCS,” said NOIA president Randall Luthi.
All three areas – the Eastern Gulf of Mexico, the Pacific OCS and the Atlantic OCS -- are currently almost entirely off-limits to offshore oil and gas development but could be included in the federal government’s next five-year leasing program. If the federal government begins holding lease sales in these regions in 2018, the three studies show that by 2035:
“None of the benefits shown in the studies can be realized without actual sales. The key to tapping this amazing economic and energy potential is including lease sales in these areas in the 2017-2022 OCS Oil and Gas Leasing Program,” Luthi said.
The studies, fact sheets and state infographics are available at www.noia.org/TapOffshoreEnergy.
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 300 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.