View Rule

View EO 12866 Meetings Printer-Friendly Version     Download RIN Data in XML

DOI/BOEM RIN: 1010-AE14 Publication ID: Spring 2024 
Title: Risk Management and Financial Assurance for OCS Lease and Grant Obligations 
Abstract:

This final rule modifies 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.

BOEM held a Government-to-Government consultation with an Indian Tribal Nation during the development of the NPRM and the final rule. BOEM received a range of comments on the NPRM during the public comment period. This final rule addresses 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: Completed Actions 
Major: Yes  Unfunded Mandates: Private Sector 
CFR Citation: 30 CFR 550    30 CFR 556   
Legal Authority: OCSLA--43 U.S.C. 1331 et seq.   
Legal Deadline:  None
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  04/24/2024  89 FR 31544   
Final Rule Technical Correction  05/31/2024  89 FR 47080   
Final Rule Effective  06/29/2024 
Regulatory Flexibility Analysis Required: YES  Government Levels Affected: None 
Small Entities Affected: Businesses  Federalism: No 
Included in the Regulatory Plan: Yes 
RIN Data Printed in the FR: Yes 
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