BOEM to Offer 958K Acres Off Alaska Coast in New Lease Sale

The Bureau of Ocean Energy Management (BOEM) has announced that it will offer approximately 958,202 acres off Alaska’s southcentral coast in a lease sale scheduled for December 30, 2022.

Dubbed the Cook Inlet Outer Continental Shelf Oil & Gas Lease Sale 258, the sale will offer for lease 193 blocks in the northern part of the Cook Inlet Planning Area in federal waters, BOEM outlined. The sale is in compliance with the Inflation Reduction Act of 2022 (IRA), BOEM pointed out, adding that the IRA directed it to hold the auction by December 31 this year.

BOEM highlighted that, last month, it published a final environmental impact statement for the lease sale that identified “robust” mitigation measures to be considered in leasing the area. Mitigation measures identified in the final notice of sale will help protect sea otters, beluga whales, and subsistence, recreational, and commercial fisheries, BOEM noted.

“On Friday, December 30, 2022, the Bureau of Ocean Energy Management will open and publicly announce bids received for blocks offered in the Cook Inlet Planning Area Outer Continental Shelf (OCS) Oil and Gas Lease Sale 258 (Cook Inlet Sale 258),” BOEM said in an organization statement.

“The lease sale terms include stipulations to protect biologically sensitive resources, mitigate potential adverse effects on protected species, and avoid potential conflicts associated with oil and gas development in the region,” BOEM noted.

“BOEM’s proposed economic terms are designed to encourage diligent development while ensuring a fair return to taxpayers,” BOEM added.

Back in October, BOEM announced the next steps for oil and gas leasing on the Outer Continental Shelf (OCS) to comply with provisions in the IRA. These included a proposed sale for the Gulf of Mexico region and the completion of the environmental review for Cook Inlet, offshore Alaska.

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