MMS sees accelerating growth in Gulf of Mexico oil, gas production

The Minerals Management Service's Gulf of Mexico regional office predicted in a June 10 report that leases held on the Outer Continental Shelf will be producing oil and natural gas at dramatically higher levels than a decade ago. Click here to enlarge imageMMS said that it expected leases to produce 2-2.47 million b/d of oil and 10.97-16.39 bcfd of gas by the end of 2006.MMS Director Johnnie Burton called the new projections "a healthy, sizeable increase in the range of possible oil production. Should the high-case estimates be reached in 2006, we will see a 160% increase in oil production from the gulf in the period 1995-2006." Oil production has been rising steadily in the gulf fr...

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