Houston, TX, U.S., Sept. 08, 2020 (GLOBE NEWSWIRE) -- Nikki Martin, President of the IAGC today issued the following statement regarding the Administration’s “Memorandum on the Withdrawal of Certain Areas of the United States Outer Continental Shelf from Leasing Disposition” for the eastern Gulf of Mexico and Atlantic.
“The IAGC is disappointed in the action taken by this Administration today, as it threatens the commercial viability for near-term exploration in the South Atlantic planning area and continues an arbitrary ban in the Eastern Gulf of Mexico. Today's action undermines the ability of the U.S. to meet national and growing global energy demand with competitive resource basins and disregards the decade of environmental analyses, administrative and congressional review, and consultation with stakeholders and communities that have been put into seeking access to areas off the Atlantic Coast.
“As policymakers and the public debate future offshore energy access, modern Atlantic seismic data remain critical to making informed decisions. Unfortunately, the continued delay in issuing a final decision on Atlantic permits, coupled with today's Presidential action, is a missed policy opportunity.
“The IAGC continues to encourage predictability, transparency, and regulatory and fiscal certainty of governments globally that want to attract and maintain a healthy geophysical and exploration industry. Today's action falls short of placing the U.S. in that category and risks the investment of this vital industry moving elsewhere.”
###
About the IAGC
Founded in 1971, the IAGC is the global trade association for the geophysical and exploration industry, the cornerstone of the energy industry. With member companies in 50 countries, our membership includes onshore and offshore survey operators and acquisition companies, data and processing providers, exploration and production companies, equipment and software manufacturers, industry suppliers, and service providers. The IAGC supports and fosters science- and risk-based regulations consistent with existing practices that are proven to be environmentally responsible, effective and operationally feasible.