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The
NewsRoom
Release: #3103
Date: November 15, 2004
Gulf of Mexico Deep Water Oil and Gas
Production
Remains Strong in 2003
Deep water oil production in the Gulf of Mexico OCS
in 2003 was an estimated 350 million barrels, increasing slightly from
the 349 million barrels produced in 2002, the Department of the
Interior’s Minerals Management Service (MMS) announced today. MMS also
announced that deep water natural gas production grew to an estimated
1.42 trillion cubic feet (Tcf) in 2003, up from 1.33 Tcf produced in
2002.
Deep water oil production has risen 386% since 1996
and accounts for 62% of the total oil production in the Gulf of
Mexico. Deep water gas production is up a dramatic 407% since 1996.
The deep water part of the Gulf of Mexico (the area
in 1,000-feet and deeper water depths) has been a location of high
exploration and development activity over the past decade.
“The extensive effort that the oil and gas industry
has invested in this area continues to pay off. The deep water Gulf of
Mexico is a shining star in the Nation’s energy portfolio”, noted MMS
Director Johnnie Burton.
Production from all water depths in the federal
portion of the Gulf of Mexico totaled an estimated 562 million barrels
of oil and 4.44 Tcf of gas in 2003. The Gulf of Mexico is the single
largest source of oil and gas for domestic consumption – supplying
more of these resources to the U.S. market than any single domestic or
foreign source.
Attached are oil and gas production charts for the
Gulf of Mexico OCS Region.
The Minerals Management Service is
the federal agency in the U.S. Department of the Interior that manages
the nation’s oil, natural gas, and other mineral resources on the
Outer Continental Shelf in Federal offshore waters. The agency also
collects, accounts for, and disburses mineral revenues from Federal
and American Indian lands. MMS disbursed more than $8 billion
in FY 2003 and more than $143 billion since the agency was created in
1982. Nearly $1 billion from those revenues go into the Land and
Water Conservation Fund annually for the acquisition and development
of state and Federal park and recreation lands.
Relevant Web Sites:
MMS Main Website
Gulf of Mexico Website
Media Contacts:
Debra Winbush (504)
736-2597
Caryl Fagot (504)
736-2590
MMS: Securing Ocean Energy & Economic Value for
America
U.S. Department of the Interior
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