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The
NewsRoom
Release: #3212
Date: December 21, 2004
MMS Updates Offshore Undiscovered Oil and Natural
Gas Resource Estimates
The Minerals Management Service has issued an
interim
update (PDF file) to estimates for undiscovered technically recoverable resources
underlying offshore waters on the Outer Continental Shelf. Based on
information obtained from new exploration activities in the Gulf of
Mexico and in the Scotian Basin offshore Canada, MMS estimates that
76.0 billion barrels of oil and 406.1 trillion cubic feet of natural
gas are technically recoverable from federal offshore areas. While
the overall estimate for oil resources remained about the same as the
2000 Assessment, the MMS estimate for natural gas increased about 12
percent compared to the 2000 number. About 91 percent of this
increase in the natural gas estimate is due to new information
obtained from recent exploration activities in the Gulf of Mexico.
These estimates represent the
potential hydrocarbons of an area that can be produced using current
technology, without any consideration to economic feasibility.
Current technology includes drilling in water in excess of 3000 meters
(10,000 feet) deep and to depths in excess of 9600 meters (31,700
feet).
MMS conducts a comprehensive
national assessment of the undiscovered oil and gas resources on the
OCS every five years. The last comprehensive national assessment was
completed in 2000. The national assessments also include estimates
for undiscovered economically recoverable resources, which represent
the portion of the undiscovered technically recoverable hydrocarbons
that can be explored, developed and commercially produced at given
costs and price considerations using present or reasonably foreseeable
technology. Present technologies include subsea completions and
tie-backs, extended reach drilling, multi-lateral completions, and
floating production systems.
Interim updates to these
assessments, such as the one issued today, are released in response to
significant information obtained from new exploration and development
activity, and on occasion to incorporate major improvements in
methodology and modeling.
MMS utilizes statistical models
that incorporate geological, engineering, and economic inputs to
estimate the undiscovered technically recoverable resources. The
chart below lists the low, mean, and high estimates for the Alaska,
Atlantic, Gulf of Mexico and Pacific planning areas of the OCS.
Undiscovered
Technically Recoverable Resources (UTRR) on the Outer Continental
Shelf
|
|
UTRR Oil (Bbbl) |
UTRR Gas (Tcf) |
UTRR BOE (Bbbl) |
|
LOW |
MEAN |
HIGH |
LOW |
MEAN |
HIGH |
LOW |
MEAN |
HIGH |
|
Alaska OCS |
16.6 |
25.1 |
35.9 |
54.6 |
122.1 |
226.2 |
28.0 |
46.9 |
72.1 |
|
Atlantic
OCS |
1.9 |
3.5 |
5.3 |
19.8 |
33.3 |
50.6 |
5.4 |
9.4 |
14.3 |
|
Gulf of
Mexico OCS |
31.5 |
36.9 |
44.0 |
208.9 |
232.5 |
267.6 |
68.7 |
78.3 |
91.6 |
|
Pacific OCS |
4.4 |
10.5 |
21.8 |
7.4 |
18.2 |
38.2 |
5.7 |
13.7 |
28.6 |
|
Total OCS |
62.1 |
76.0 |
93.0 |
326.2 |
406.1 |
520.0 |
122.0 |
148.3 |
180.4 |
(Bbbl = billion barrels of oil, Tcf = trillion cubic
feet of gas, BOE = total
oil and gas in energy-equivalent barrels. LOW indicates a 95 percent
chance of at least the amount listed existing. HIGH indicates a 5
percent chance of at least the amount listed occurring. MEAN estimates represent the expected amount. Only the
mean values are additive.)
MMS,
part of the U.S. Department of the Interior, oversees 1.76 billion
acres of the Outer Continental Shelf, managing offshore energy and
minerals while protecting the human, marine, and coastal environments
through advanced science and technology research. The OCS provides 30
percent of oil and 23 percent of natural gas produced domestically,
and sand used for coastal restoration. MMS’s collects, accounts for,
and disburses mineral revenues from Federal and American Indian lands,
with fiscal year 2004 disbursements of around $8 billion and more than
$143 billion since 1982. The Land and Water Conservation Fund, which
pays for acquisition of state and federal park and recreation land,
gets nearly $1 billion a year.
Relevant Web Sites:
MMS Main Website
National
Assessment Page
Media Contacts:
Nicolette Nye (202)
208-3985
MMS: Securing Ocean Energy & Economic Value for
America
U.S. Department of the Interior
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