BOEM ANPR Seeks Comment on OCS Financial Assurance Requirements
The U.S. Bureau of Ocean Energy Management seeks comments and information regarding BOEM's effort to update its regulations and program oversight for Outer Continental Shelf financial assurance requirements. BOEM intends to design and implement a more robust and comprehensive risk management, financial assurance and loss prevention program to address complex issues and cost differences associated with offshore operations. To do so, BOEM seeks stakeholder comments regarding various risk management and monitoring activities pertaining to financial risks to taxpayers that may result from activities on the OCS.
BOEM is focusing on the bonding and financial assurance program for BOEM's offshore oil and gas program. BOEM also seeks comments on the analogous bonding and financial assurance program for BOEM's offshore renewable energy and hard minerals programs.
BOEM will consider all comments received by midnight of October 20, 2014.
Click here to read BOEM's Federal Register notice seeking comment on OCS financial assurance requirements.