Federal Government Presents Plan To Resume Oil And Gas Leases ...Middle East

The federal government said it would soon resume oil and gas leasing, opening up millions of acres of federal land for drilling, most of it in the Gulf of Mexico. Quoting the Interior Department, Reuters reported that the government will offer most of the unleased offshore blocks in the GOM, which span some 90 million acres. The lease sale could eventually yield oil production of up to 1.1 billion barrels of oil and 4.4 trillion cu ft of natural gas. Interestingly, in its record of decision on the matter, the Interior Department said the latest…

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