The IRA, passed in August 2022, aims to catalyze investments in domestic manufacturing capacity, encourage procurement of critical supplies domestically or from free-trade partners, and jump-start R&D and commercialization of leading-edge technologies such as carbon capture and storage and clean hydrogen.
This should mean there are many opportunities for the Houston market. As an energy consultancy we want to engage the market, share our lessons learnt across the energy spectrum and build a new bright future for the GoM.
This is why we’re playing a key role in the facilitation of Hart Energy LIVE’s GoM Energy Transformation Conference 2023.
The GoM continues to be a mainstay of the nation’s source of oil and gas - generating about 15% of all US OCS oil and 5% of gas production according to the US Energy Information Administration. And, in 2023, BOEM forecasts 2 MMbbl/d and 2,446 MCF/day of production from the GoM. However, it's estimated that $450 billion of clean energy related investments will hit the GoM within the next few years.
We firmly believe that oil, and in particular natural gas, will play a role in moving the world to net zero reliably and affordably. To ensure the industry is relevant in the future, a transition needs to happen.
The energy sector faces pressure – and will face increasing pressure - to decarbonize and produce net zero products. It must demonstrate a move to producing cleaner products and do this in a more transparent manner. A baseline of current emissions needs to be accessible and benchmarks for improvements need to be laid out, which includes reducing flaring, venting and leaks to name a few.
The GoM Energy Transformation Conference will explore the energy expansion activities taking place in the region. It will tackle new and evolving technologies, developing exploration efforts, and subsea expansion opportunities.
In addition to traditional offshore oil and gas, this conference will provide rich information from industry leaders on topics such as offshore energy security, carbon capture and storage, offshore wind, and more. Gain insights from major and independent E&P companies who are incorporating these new products and technologies into their portfolios.
There’s so much to play for in the region. We hope to see you there. https://www.hartenergy.com/events/gulf-mexico-energy-transformation-conference-2023