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Oil production in Gulf of Mexico dropped as twice during 10 years

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Gulf of MexicoDuring ten years oil production in the Gulf of Mexico declined by 49%, reads the analytical report of Bank of America, according to the internet portal Energy Global.

            The reason of decline is production decline on the old offshore fields. The companies more often prefer to invest into new onshore fields, where application of the technology of fracking has led to a rapid growth of production. As a result of that about 447 million barrels of oil was extracted on the shelf of Gulf of Mexico against 584 million barrels in 2010.

            Shaun Hackburt, analyst of the US Chamber of Commerce, said production decline on the federal lands is a disturbing tendency. The leasing plan worked out by the US Department of Internal Affairs in 2012, has closed 86% of continental shelf for exploration and extraction. In order to maintain the success achieved in production of energy resources, the US authorities must expand the territory of the shelf, where oil production could be carried out.

            The authors of the report also mentioned that in 2014 US was ahead of all other countries in oil and condensate production and in quarter 1, 2014 it exceeded 11 million barrels a day.

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