Houston, TX (US), Jan. 04, 2018 (GLOBE NEWSWIRE) -- Nikki Martin, President of the International Association of Geophysical Contractors (IAGC), today issued the following statement regarding the Interior Department’s 2019-2024 OCS Oil and Gas Leasing Program:

 “Today’s announcement from the Administration that it would include the US Atlantic, Arctic, Pacific and important Gulf of Mexico acreage in the 2019 – 2024 Oil and Gas Leasing Program is a win for the American people and helps to secure America’s goal of energy security.

“Though it strives to be the global energy leader, the United States is virtually the only nation that is not exploring the resource potential of the Atlantic.  Today’s announcement demonstrates that that this Administration is thinking beyond today and taking into account the energy needs of a growing economy for future generations. 

“Although today’s announcement signals a significant shift from past Administrations’ decisions to correct the course for sound U.S. energy policy, there is still much work to be done as applications for geophysical surveys in the Atlantic continue to languish. Authorization requests, from the National Marine Fisheries Service, have been pending for nearly 900 days and seismic permit applications have been pending with the Department of Interior for more than three years.  It would be a missed opportunity for a final five-year plan to include areas that have not been surveyed and privy to the most advanced, scientific analysis of the resource base. 

“A lack of new geophysical data could undermine the Administration’s stated goal to open more areas in the U.S. outer continental shelf.  We urge the Administration to move forward with seismic survey authorizations without delay.  Geophysical surveys play an essential role in providing accurate assessments of America’s oil and natural gas resources for determining future OCS leasing decisions and plans.

“The IAGC and our members applaud the Administration for its commitment to its mandate under the Outer Continental Shelf Lands Act for the expeditious and orderly development of America’s offshore resources.”

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About the IAGC

The IAGC represents more than 125 member companies worldwide that provide geophysical services (geophysical data acquisition, seismic data ownership and licensing, geophysical data processing and interpretation, and associated service and product providers) to the oil and gas industry and is the only trade organization solely dedicated to representing the geophysical industry.  The IAGC the leader in geophysical technical and operations expertise and for more than 46 years, the IAGC has worked to optimize the business and regulatory climate and enhances public understanding to support a strong, viable geophysical industry essential to discovering and delivering the world’s energy resources. 

Attachments:

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/00943dd8-217f-4a4a-bb08-9aef5b4a5436

Gail Adams-Jackson
International Association of Geophysical Contractors
+1 713-957-8080
gail.adams@iagc.org