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DOI/BOEM | RIN: 1010-AE14 | Publication ID: Fall 2023 |
Title: Risk Management and Financial Assurance for OCS Lease and Grant Obligations | |
Abstract:
This final rule will modify the evaluation criteria for determining whether oil, gas and sulfur lessees, right-of-use and easement grant holders, and pipeline right-of-way grant holders may be required to provide bonds or other financial assurance, above the regulatorily prescribed amounts for base bonds, to ensure compliance with their Outer Continental Shelf obligations. We held a Government-to-Government consultation with the Indian Tribal Nation during the development of the NPRM and expect to have another consultation on the final rule. This final rule will address feedback received from public comment period and Tribal consultations. |
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Agency: Department of the Interior(DOI) | Priority: Section 3(f)(1) Significant |
RIN Status: Previously published in the Unified Agenda | Agenda Stage of Rulemaking: Final Rule Stage |
Major: Yes | Unfunded Mandates: No |
CFR Citation: 30 CFR 550 30 CFR 556 | |
Legal Authority: OCSLA--43 U.S.C. 1331 et seq. |
Legal Deadline:
None |
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Statement of Need: This rule will modify the evaluation criteria for determining whether oil, gas and sulfur lessees, right-of-use and easement grant holders, and pipeline right-of-way grant holders may be required to provide bonds or other financial assurance, above the regulatorily prescribed amounts for base bonds, to ensure compliance with their Outer Continental Shelf obligations. |
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Summary of the Legal Basis: OCSLA--43 U.S.C. 1331 et seq. |
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Timetable:
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Regulatory Flexibility Analysis Required: Undetermined | Government Levels Affected: Undetermined |
Federalism: No | |
Included in the Regulatory Plan: Yes | |
RIN Data Printed in the FR: No | |
Related RINs: Split from 1082-AA02 | |
Agency Contact: Kelley Spence Program Analyst Department of the Interior Bureau of Ocean Energy Management 1849 C Street NW, Washington, DC 20240 Phone:948 298-7345 Email: kelley.spence@boem.gov |