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Oil Spill in the Gulf of Mexico: What We Know Receive updates on BOEM Marine Minerals Program (MMP) and Sand Management Working Group (SMWG) efforts. However, currently announced completion dates suggest the industry will fall short of installing 30 GW of offshore wind by 2030. But opting out of some of these cookies may affect your browsing experience. this website. The current administration remains keen to encourage offshore wind deployment beyond the East Coast of the US. Long-term state offshore wind targets increased 79% last year. Wed,02/22/23-2:05PM, 313 Reads. Observations. February 22, 2023 at 11:14 p.m. EST. After a decade that saw one of the worst oil spills in U.S. history, shales ascendance and mounting climate-change concerns, some experts believethat the sun may be setting onthe Gulf. Growth was primarily driven by lease auction fees, though more than $4.4 billion was directed to port infrastructure, supply chain development, and transmission. Last year, Shell said its global oil production had peaked in 2019 while BP in 2020 said it would cutoil and gas production worldwide40% by 2030. This does not reflect the number of rigs actually working at any given time as some contracted rigs may be moving between locations, undergoing maintenance, waiting on weather, etc. Deepwater Development Systems in the Gulf of Mexico Basic Options National Offshore Sand Inventory (NOSI) Update and Projects Supported by NOSI - Ashley Long, BOEM. National Weather Service BP has said its existing Gulf of Mexico fields can break even with crude prices in the low-$30s, making it some of the lowest-cost oil in the world to produce. In addition to executive actions, the Administration is also working to swiftly implement provisions of President Bidens Inflation Reduction Act and Bipartisan Infrastructure Law that will further accelerate offshore wind, including clean energy tax credits to support manufacturing and deployment, as well as investments in transmission and port infrastructure.Building on Recent Administration Actions. The Gulf of Mexico loop current brings warm Caribbean water northward between the Yucatan Peninsula and Cuba and into the Gulf. wind power is also intermittent, meaning that turbines are reliant on weather and therefore arent capable of generating electricity 24/7. Gulf of Mexico Fishing: The Complete Guide - FishingBooker Blog Gulf of Mexico - Atlantic Oceanographic and Meteorological Laboratory Since the start of the current . We also use third-party cookies that help us analyze and understand how you use this website. BOEM to Hold Gulf of Mexico Oil, Gas Lease Sale in March. Is red tide still affecting beaches in Southwest Florida? | Bradenton Stennis Space Center, MS 39529. National Weather Service. Sea Surface Temperature (SST) Contour Charts The Biden administration said Wednesday it is considering the first-ever lease sale for offshore wind energy in the Gulf of Mexico, a key part of a push to deploy . Gulf of Mexico Oil Rigs: 1942-2005 (Animation) A chronology of oil and gas rig installations in the Gulf of Mexico, showing the increased number of rigs and the greater installation depths, ending by displaying the location of BP's Deepwater Horizon explosion. Strong to gale force S winds are occurring E of the front over the eastern and central Gulf. [Online]. Multiplied over a field of turbines, these siting decisions mean real differences in the profitability of a project. Statista. Oil and Gas - Gulf of Mexico | Bureau of Ocean Energy Management Someoffshore giants are increasingly setting their sights on waters beyond the Gulf of Mexico. This is NOT a complete listing of National Weather Service marine forecast products. Even with the new platforms coming online, Gulf oil production wontgrow substantiallyin the coming years as maturefields decline, according to analysts. Withstrong, consistent winds in the Gulf, offshore wind will help reduce pollution and strengthen our electric grid, he said. NG00, The first auction for leases off the Pacific Coast, held in December of last year, brought in more than $757 million. The environmental group Clean Ocean Action has joined . Gulf of California: Gulf of Mexico: Hawaii: North Atlantic: North America: South Atlantic: US Atlantic: US Pacific: Washington/Oregon Coast: Regularly Updated Sea Surface Temperature (SST) Imagery: SST contour charts. President of the United States since 2021. The first sites will be off the coasts of Texas and Louisiana. The U.S. Energy Information Administration expects Gulf output to remain flat through2023, while S&P Global Commodity Insightsprojectsproduction mayrecover to the pre-pandemic recordby the end of the year. It was viewed 11 times while on Public Inspection. Offshore waters forecasts are subdivided by zone, each identified by text description and a Universal Generic Code (UGC). The, The Biden administration announced a goal of installing as much as 15 GW of floating offshore wind energy, Available on demand until February 16, 2024. The Interior Department recently held lease sales for offshore wind projects in New York and New Jersey, North Carolina and South Carolina, and the first-ever Pacific sale off the shore of California. +8.80% Reading Time: 11 minutes. Significant Sediment Resource Area Update - Jessica . On Feb. 22, the Biden administration announced the first auction of offshore wind leases in the Gulf of Mexico. The Biden administration has leased 1.7 million offshore acres for oil and gas in its first two years, fewer than any president since President Richard Nixon and about a third seen in President Barack Obamas first two years, according to the American Petroleum Institute (API). Many electric vehicle batteries lose power when it's very cold, News reports say three children have been killed and two other children wounded in an attack at a home in Texas on Friday afternoon, Southern states are more frequently turning to pay-to-use express lanes as a way to address highway congestion without raising taxes. Marine, Tropical and Tsunami Services Branch1325 East-West Hwy, 13th floorCommunications OfficeSilver Spring, MD 20910Comments? The administration also has said it wants to deploy another 15 GW of offshore wind power from floating turbines by 2035. We are first in your inbox with the most important news in the industry―keeping you smarter and one-step ahead in this ever-changing and competitive market. This website requires certain cookies to work and uses other cookies to help you have the best experience. Water Depth . The number of new offshore discoveries worldwide has fallen to a 75-year low after oil companies slashed their budgets for deepwater exploration. Gulf companies are already instrumental in the development of the U.S. market and by opening new lease areas on their doorstep we will leverage our unique domestic expertise even further. BP Plcs Argos and Shell Plcs Vito floating production platforms that are taller than 20-story buildings and havedecks the size of football fields will start pumping crudeoff the Louisiana shore later this year. By closing this message or continuing to use our site, you agree to the use of cookies. Approximately 10 miles offshore and 30 feet underwater, giant cement blocks will help scientists better understand what's happening in the water. But even with oil at $100 a barrel, a big comeback is unlikely. Offshore wind turbines in the Gulf of Mexico may create adverse impacts to that system. Regularly Updated Operational Coral Bleaching Monitoring Products: Please enable JavaScript to use this feature. This category only includes cookies that ensures basic functionalities and security features of the website. The Interior Department will open over 300,000 acres in the Gulf, long dominated by fossil-fuel drilling CL00, +1.41% via offshore rig. Not a subscriber or a registered user yet? Youve got this tone and tenor that in many respects has had a chill on the investment community and on companies.. Offshore wind contracts increased 36% last year, the majority of which went to U.S. firms, according to the report. "At the Department, we are taking action to jumpstart our offshore wind industry and harness American innovation to deliver reliable, affordable power to homes and businesses.". Bldg. Regulatory concernsalso loom large over the offshore sector, which relieson regular federal lease auctions to maintain output. Biden considers 1st offshore wind auction in Gulf of Mexico The Proposed Sale Notice (PSN)includes. Gulf of Mexico | Where we operate | Home - United States In FY2021, revenues totaled $4.1 Billion from OCS oil and gas activities. The announcement comes as the number of offshore oil and gas leases granted under the Biden administration have shrunk to historic lows. This proposed lease sale will continue the legacy of energy production in the Gulf of Mexico, providing Americans with an affordable clean energy supply. There is no time to waste in making bold investments to address the climate crisis, and building a strong domestic offshore wind industry is key to meeting that challenge head on.. In addition, California and Louisiana are joining Atlantic Coast governors and the Biden administration in the Federal-State Offshore Wind Implementation Partnership, it was announced. The Biden administration on Feb. 22 announced the first-ever lease sale for offshore wind power development in the Gulf of Mexico. A paid subscription is required for full access. These actions, which include proposing the first-ever Gulf of Mexico offshore wind lease sale, are advancing President Bidens clean energy and economic agenda to revitalize American manufacturing and harness American innovation to deliver reliable, affordable power to homes and businesses, while saving families money and strengthening energy security.Todays actionsalongside investments from President Bidens Inflation Reduction Act and Bipartisan Infrastructure Lawwill spur offshore wind deployment beyond the East Coast, boost American leadership on floating offshore wind technologies, and create good-paying jobs for workers throughout the nation, by: President Biden has taken decisive action to jumpstart the American offshore wind industry, ushering in billions of dollars in investments since he took officeincluding $9.8 billion in new investments in 2022 alone, more than triple the previous year. Latest News, Program Information The Department of the Interior announced the first lease sale in the Gulf of Mexico for wind power installations, opening over 300,000 acres in areas long dominated by fossil fuel production. Worriesthat todayshigh prices wont last makeinvesting in expensive, time-consuming offshore projects a hard sell. Available: https://www.statista.com/statistics/918575/gulf-of-mexico-offshore-oil-rig-count-by-contract-type/, Monthly number of offshore oil and gas rigs in the U.S. Gulf of Mexico from May 2021 to February 2023, by contract type, Available to download in PNG, PDF, XLS format, Global crude oil investment returns 2010-2021, Global proved oil reserves breakdown by country 1992-2020, Global oil reserves share by country 2020, Global seaborne trade volume of crude oil 2010-2021, Global crude oil export value by country 2021, West Texas Intermediate annual average oil price 1976-2023, Global oil consumption share 2010 & 2021, by region, Leading global oil and gas producers based on revenue 2022, Leading oil and gas producers based on market cap October 2022, Value of revenue of Saudi Aramco 2017-2021, Global oil and gas investment volume 2019-2024, by sector, Global upstream M&A deal values 2016-2021, Global oil and gas workforce by country 2019-2021, Monthly global liquid fuels consumption 2019-2022, Monthly global liquid fuels consumption by region 2019-2023, Global oil products demand outlook 2020-2045, Oil and gas companies most affected in net zero emissions scenario 2030, Gulf of Mexico's offshore oil rig marketed utilization 2017-2020, Global offshore oil rig marketed utilization 2017-2019, Global expenditures on offshore oil platform decommissioning 2013-2040, Diamond Offshore Drilling: number of offshore rigs 2009-2022, Distribution of global crude oil production onshore and offshore 2005-2025, Global offshore oil production by water depth 2005-2015, Number of offshore rigs worldwide 2018 by region, Global new drillship contracts awarded by type 2016-2018, Number of offshore rigs worldwide by operator 2018, Global new offshore oil and gas rig contracts awarded by type 2016-2018, Global capital expenditures on offshore exploration and production 2017-2025, Offshore oil and gas: asset decommissioning requirement by structure 2000-2040, Global new jackup contracts awarded by type 2016-2018, Offshore oil and gas: asset decommissioning requirements by region 2000-2040, Scheduled newbuild vessels for subsea construction worldwide by contractor 2015-2017, KSOE's green energy sales revenue 2015-2021, Offshore production facilities in Asia-Pacific, Value of money held offshore by selected U.S. companies 2014, Global new major offshore oil and gas project approvals 2013-2019, Find your information in our database containing over 20,000 reports. The FPS can be used in a range of water depths from 600 to 7,500 feet. Yep, . The largest portion goes to the General Fund of the U.S. Treasury, which benefits all U.S. citizens through funding of daily operations of the Federal Government.