A recent joint report by the American Petroleum Institute (API) and the National Ocean Industries Association (NOIA) indicates that expanding responsible oil and gas development in specific areas of the Gulf of Mexico, under the Interior Department’s proposed five-year offshore leasing plan, would deliver substantial energy security and economic growth benefits to the United States.

The report, prepared by Energy and Industrial Advisory Partners, evaluates the potential impacts of opening the South-Central Planning Area’s Plan B zone for leasing starting in 2029. It projects that implementing the plan would create more than 133,000 jobs in the U.S. by 2040 through offshore development, supply chain activities, and broader economic growth. Additionally, expanded energy production and related investments are expected to contribute $11.3 billion to U.S. GDP by 2040 and drive $13.1 billion in capital investment and industry spending.

The report also notes that by 2040, daily oil and gas production from the region would exceed 470,000 barrels of oil equivalent, helping meet rising energy demand with reliable domestic supply. Over the same period, government revenue from lease sales, rents, and royalties is projected to approach $1.5 billion.

Leaders from API and NOIA emphasized that, against a backdrop of rising global demand and geopolitical uncertainty, expanding leasing access is essential to sustaining long-term U.S. energy production capacity, strengthening energy leadership, and retaining domestic investment.

The industry stated that development access is inseparable from a commitment to world-class safety standards. A stable and predictable leasing schedule would enable companies to plan long-term and invest in leading technologies and operations, thereby advancing development while upholding the highest standards of safety, environmental stewardship, and community engagement.

API represents all segments of the U.S. oil and natural gas industry, supports nearly 11 million U.S. jobs, and its approximately 600 member companies produce, process, and distribute the majority of the nation’s energy. NOIA represents and promotes the dynamic offshore energy industry, providing solutions that support communities and protect workers, the public, and the environment.