U.S. Department of the Interior Minerals Management Service Office of Communication

Minerals Management Service Releases Annual Report
on the Oil and Gas Reserves in Gulf of Mexico

About 3.21 billion barrels of petroleum and 30.8 trillion cubic feet of natural gas were estimated to exist as “remaining proved reserves” in 789 proved active oil and gas fields of the Gulf of Mexico Outer Continental Shelf, the Minerals Management Service announced today.  The data, which appears along with an analysis is found in a new MMS report, Estimated Oil and Gas Reserves Gulf of Mexico Outer Continental Shelf, December 31, 1997.  The Agency, a bureau of the Department of the Interior, indicates an increase of about 0.47 billion barrels of liquid (oil and gas condensate) and an increase of 1.4 trillion cubic feet of gas in remaining proved reserves as compared to the December 31, 1996, estimates.  New proved field discoveries account for an increase of 0.34 billion barrels of liquid and 1.6 trillion cubic feet of gas.

Unproved reserves as of December 31, 1997, the report said, are estimated to be 1.03 billion barrels of oil and 3.9 trillion cubic feet of gas.  These reserves are associated with 51 unproved active fields.  There are 16 unproved active fields not studied.  This makes a total of 856 active fields located in Federal waters.

Original proved reserves are estimated to have been 13.67 billion barrels of oil and 158.4 trillion cubic feet of gas from 957 proved fields under the Federal submerged lands in the Gulf of Mexico.  Included in this number are 168 fields that are depleted and abandoned; not included are the 67 unproved active fields.  As of December 31, 1997, cumulative production from these 957 fields was 10.46 billion barrels of oil and 127.6 trillion cubic feet of gas.

The next report, Estimated Oil and Gas Reserves Gulf of Mexico Outer Continental Shelf, December 31, 1998, is scheduled to be available in April 2000.

This report, number MMS 2000-006, just released, along with digital data, is available free via the MMS Internet homepage at www.mms.gov.  Paper copies are available from MMS at a cost of $3.00 and diskettes containing digital data at a cost of $1.00.  Checks should be made payable to the Minerals Management Service, Gulf of Mexico OCS Region, Attn:  Public Information Unit (MS 5034) 1201 Elmwood Park Boulevard, New Orleans, Louisiana  70123-2394; telephone (504) 736-2519 or 1-800-200-GULF, or by fax at (504) 736-2620.

The MMS is the Federal agency that manages the Nation’s oil, natural gas, and other mineral resources on the OCS; and collects, accounts for, and disburses about $4 billion in yearly revenues from offshore Federal mineral leases and from onshore mineral leases on Federal and American Indian lands.

-MMS-

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