Alaska lease sale 258 notice available for review 

The lease sale is mandated by the new Inflation Reduction Act. The legislation directs the Bureau of Ocean Energy Management (BOEM) to hold Lease Sale 258 by 31 December 2022.

The Inflation Reduction Act allocates US$369Bn to incentivise multiple sources of clean energy, including electric cars, carbon capture and storage and nuclear power.

For the oil and gas industry, the bill revives leasing in the Gulf of Mexico and onshore federal lands. A new principle is also introduced, which would require the government to offer fossil fuel development opportunities on federal lands wherever renewable energy development is promoted.

BOEM will propose to offer up to 224 blocks toward the northern part of the Cook Inlet Planning Area, from roughly Kalgin Island in the north to Augustine Island in the south, in water depths ranging from 10 m to 79 m.