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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.   

 
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

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.

Summary of the Legal Basis:

OCSLA--43 U.S.C. 1331 et seq.

Timetable:
Action Date FR Cite
NPRM  06/29/2023  88 FR 42136   
NPRM Comment Period Extension  08/25/2023  88 FR 58173   
NPRM Comment Period End  08/28/2023 
NPRM Comment Period Extension End  09/07/2023 
Final Rule  04/00/2024 
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