Crude oil production in the US federal Gulf of Mexico averaged 1.8 MM b/d in 2018, setting a new annual record, according to the Energy Information
Offshore staff
WASHINGTON, D.C. – Crude oil production in the US federal Gulf of Mexico (GoM) averaged 1.8 MM b/d in 2018, setting a new annual record, according to the Energy Information Administration (EIA).
The EIA expects oil production in the GoM to set new production records in 2019 and in 2020, and this means more investment spending on crews and equipment, even after accounting for shut-ins related to Hurricane Barry in July 2019 and including forecasted adjustments for hurricane-related shut-ins for the remainder of the year and for 2020.
Based on EIA’s latest Short-Term Energy Outlook’s expected production levels at new and existing fields, annual crude oil production in the GoM will increase to an average of 1.9 MMb/d in 2019 and 2.0 MMb/d in 2020.