API-NOIA Reports Benefits of Expanding South-Central Gulf Energy Development

The American Petroleum Institute (API) and the National Ocean Industries Association (NOIA) released a new report, Unlocking the New South-Central Gulf of America for Energy Development: Potential Economic Impacts and Opportunities, highlighting the opportunity to strengthen U.S. energy security and economic growth through expanded energy development in the New South-Central region of the Gulf of America.

The report, prepared by Energy and Industrial Advisory Partners (EIAP), finds that extending responsible oil and natural gas development in the region, as outlined in the Department of the Interior’s proposed five-year offshore leasing program, would generate a significant source of new domestic energy supply, strengthening America’s energy security and supporting thousands of jobs across the Gulf Coast. Expanding access ensures the Gulf can continue to attract the next generation of investment and sustain long-term growth in one of the world’s most prolific offshore basins.

The report evaluates the potential impacts of opening Program Area B in the South-Central Gulf of America to leasing beginning in 2029. Key findings include:

• More than 133,000 jobs supported by 2040 through offshore development, supply chain activity and broader economic growth.
• $11.3 billion in U.S. GDP supported in 2040 from expanded energy production and related investment.
• $13.1 billion in capital investment and industry spending in 2040 tied to exploration, development and operations.
• Nearly $1.5 billion in government revenues in 2040 from lease bids, rents and royalties.
• More than 470,000 barrels of oil equivalent per day in production by 2040, helping meet rising demand with secure American supply.

The report also finds these benefits would extend well beyond offshore production, supporting workers and businesses while leveraging infrastructure and workforce capabilities across the Gulf.