Crude oil production in the Federal Gulf of Mexico (GOM) is expected to continue increasing in 2018 and 2019.
According to the Energy Information Administration (EIA), US crude oil production in GOM increased slightly in 2017, reaching 1.65 million barrels per day. This is the highest annual level on record despite being briefly hindered by platform outages and pipeline issues.
In the EIA's short-term energy outlook, it expects the GOM to account for 16% of total US crude oil production in each year.
Based on expected production levels at new and existing field, annual crude oil production in the GOM will increase to an average of 1.7 million barrels per day in 2018 and 1.8 million barrels per day in 2019.
In 2016, producers brought seven new projects and expansions online and ramped up production in 2017, collectively contributing to an average of 126,000 barrels per day of production in 2017.
Producers expect four new projects to come online in 2018 and six more in 2019.
Growing Contanda's storage footprint in HoustonPetrochemical production fuels a bright storage future Oil market eyes November Iran sanctions hiatus A new name in Cushing Unleashing the potential of American energy Storage for the US's largest refining market Expanding the US global market share Trade war questions temper US midstream sector growth plans Safe & productive solutions for tank cleaning Ground improvement plays supporting role for storage tanks