WASHINGTON -- The U.S. Senate today passed 71 to 25 the Domenici-Landrieu Gulf of Mexico Energy Security Act, S. 3711, that would open new territory off the Gulf Coast to oil and natural gas drilling and share a portion of the new royalties with four coastal states.

"Today is historic for Louisiana because our state is finally on the road to receiving a sizable portion of the revenue generated from oil and gas production off our shores," Sen. Mary L. Landrieu, D-La., said. "The bill gives Louisiana the necessary resources we need to restore our eroding coastline, build strong levees, and protect our people and infrastructure from future hurricane damage."

Sen. Landrieu and Senate Energy Committee Chairman Pete Domenici, R-N.M., worked together to promote a key provision in the bill that shares new revenue from Gulf of Mexico oil and gas production with Louisiana, Texas, Mississippi and Alabama. The Florida senators, Republican Mel Martinez and Democrat Bill Nelson, voted for the bill because it includes a 125-mile drilling buffer for their state. The White House also endorsed the bill in late July.

"The energy produced off the Gulf Coast not only serves Louisiana, but it serves the whole nation," Sen. Landrieu said. "This bill will increase our domestic energy supply, decrease energy prices nationwide and provide jobs for hard working Louisianians."

The Domenici-Landrieu bill would open 8.3 million acres in the Gulf of Mexico to new oil and gas production and share 37.5 percent of new royalties with Gulf Coast states. The new revenue would fund coastal restoration and hurricane protection projects.

The new drilling area is expected to produce more than 1.3 billion barrels of oil -- more than the proven combined reserves of Wyoming and Oklahoma -- and nearly six trillion cubic feet of natural gas, or six times today's annual U.S. imports. Of the new revenue, the state side of the Land and Water Conservation Fund would receive an additional 12.5 percent. In 2017, when coastal revenue sharing would extend to all new production in the Gulf of Mexico, Louisiana would stand to receive more than $650 million a year.

The Senate will begin negotiations with the House, which passed a similar bill also containing revenue sharing in June.

"The Senate vote today was a huge step toward the revenue sharing our state deserves," Sen. Landrieu said. "I look forward to working with the House as we bring together a strong bipartisan coalition to pass the best possible bill for Louisiana."