Gulf of Mexico Deepwater Production Increased in 2003
|Tuesday, November 16, 2004
Deepwater 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.
Deepwater 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 deepwater 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. click here to download related charts