US House passes GoM transboundary agreement with Mexico

The US House of Representatives has passed the Outer Continental Shelf Transboundary Hydrocarbon Agreements Authorization Act.

Offshore staff

WASHINGTON, D.C. – The US House of Representatives has passed the Outer Continental Shelf Transboundary Hydrocarbon Agreements Authorization Act.

The act approves and implements anagreement signed in 2012 that governs development of shared oil and gas resources in the Gulf of Mexico along the US/Mexico maritime border.

The move opens 1.5 million acres (6,070 sq km) in the GoM with as much as 172 MMbbl of oil and 304 bcf (8.6 bcm) of natural gas, said Rep. Jeff Duncan, bill sponsor.

6/28/2013

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