NOIA commends extension of Gulf of Mexico Leases

Offshore staff

WASHINGTON, DC – NOIA President Randall Luthi issued the following statement applauding lease extensions announced by the Department of the Interior yesterday:

“The Department of Interior’s announcement that it has approved nearly 1,400 lease extensions is certainly welcome news. Due to industry-lead initiatives to increase safety standards, response capability and containment ability, NOIA members are ready to safely increase exploration and production activities which will add new jobs, new energy, and new revenues to the federal treasury. We commend BSEE for taking steps to give companies a chance to recover from the moratorium.”

Luthi’s statement continued: “We continue to raise the issue of shallow water lease holders as well who have seen similar impacts and ought to receive similar consideration. It is important to ensure that all projects affected by the blanket moratorium and the subsequent slower rate of permitting are given the same consideration – including shallow water operations. Shallow water leases provide shorter time periods for production, and we believe it is appropriate they be extended as well.”

11/1/2011

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