IADC Comment on 2019-2024 OCS Oil & Gas Leasing Proposed Program

IADC Comment on 2019-2024 OCS Oil & Gas Leasing Proposed Program

Houston (4 January 2018) – Today, the U.S. Department of the Interior issued the draft 2019-2024 Outer Continental Shelf Oil & Gas Leasing Proposed Program. In response, IADC President Jason McFarland issued the following statement:

“Today’s draft proposed program is an important step forward in the legislatively mandated process that will ultimately determine the available leasing areas for oil and gas development on the U.S. Outer Continental Shelf. The inclusion in the 2019-2024 proposed plan of waters off both the Atlantic and Pacific, along with areas in the Arctic and expanded areas in the Gulf of Mexico represents a commitment by this Administration to energy policies that will achieve their stated goal of U.S. energy dominance in the world.”

“IADC has long argued for access to areas that hold potential for oil and gas development. The EIA has projected a 48% growth in worldwide energy demand over the next 20 years, and to meet that need, we must have the ability to responsibly access and develop the abundant natural resources of the U.S. both onshore and offshore. As an example, an estimated 3.3 billion barrels of oil and 31.3 trillion cubic feet of natural gas are expected to be accessible off the coasts of Virginia, North Carolina, South Carolina and Georgia alone. The number and scale of the recoverable resources is large, and it can lead to thousands of new jobs and billions of dollars in investment that would result from such activity.”

“Today’s announcement of the new draft proposed plan is an important step forward in ensuring the continued energy renaissance of the U.S., and IADC and its members will continue to support the Department of Interior as it works through the process of producing the Proposed Final Program.”

ABOUT IADC

Since 1940, the International Association of Drilling Contractors (IADC) has exclusively represented the worldwide oil and gas drilling industry. IADC’s mission is to catalyze improved performance for the drilling industry by enhancing operational integrity and championing better regulation to facilitate safer, cleaner and more efficient drilling operations worldwide. For more information, visit the IADC website at www.iadc.org.