The US Department of the Interior has significantly increased its estimated oil and gas reserves in the Gulf of America Outer Continental Shelf.
The US Department of the Interior has significantly increased its estimated oil and gas reserves in the Gulf of America Outer Continental Shelf.
The Bureau of Ocean Energy Management’s analysis reveals an additional 1.30 billion barrels of oil equivalent since 2021, bringing the total reserve estimate to 7.04 billion barrels of oil equivalent. This includes 5.77 billion barrels of oil and 7.15 trillion cubic feet of natural gas – a 22.6% increase in remaining recoverable reserves.
BOEM’s updated assessment evaluated over 140 oil and gas fields, identifying 18 new discoveries and analysing more than 37,000 reservoirs across 1336 fields in the Gulf. The review added 4.39 billion barrels of oil equivalent in original reserves, up from the previous estimate of 3.09 billion barrels of oil equivalent.
