There is absolutely no inconsistency with BSEE choosing not to need enchantment bonds for the stage of the buy to decommission and BOEM deciding to involve them with the stage of economic assurance demands. The BSEE selection is predicated largely on the idea that financial assurance is previously in position by the time it troubles decommissioning orders and therefore it does not deal with the challenges that BOEM does at time of demanding economic assurance. See 88 FR 23569, 23579 (April 18, 2023) (noting BSEE's reliance to the economic assurance regulations for analyzing an charm bond is not really necessary for the BSEE method).
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On June 29, 2023, the Section proposed a new rule in lieu of finalizing the BOEM provisions in the 2020 joint proposal. The new proposed rule presented proposed revisions towards the polices concerning chance management and fiscal assurance for OCS lease and grant obligations.
Other commenters opposed the proposal and asserted that third-occasion guarantors really should not be excused from your requirement that ensures cover all obligations of lessees, working rights homeowners, and operators within the lease, but did not offer supporting reasoning for their assertions. Reaction:
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The Department proposed and is also finalizing revisions towards the supplemental money assurance needs for third-bash ensures and decommissioning accounts, and prerequisites for transfers, as talked about within the subsections below.
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Additionally, DOI also proposed to implement The prices of decommissioning resulting from BSEE's new methodology, which provides probabilistic charges using a database of claimed decommissioning expenses over the OCS, to determine the amount of supplemental fiscal assurance required, as talked about in portion III.B of this preamble.
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1 commenter provided an current Investigation of load, which includes a comparison from the three proposed decommissioning estimate values, which was referenced by multiple commenters in their remark submissions. The commenter's Assessment asserted that the final results over the liability amounts “are mostly dependent on each company's `portfolio' of decommissioning liabilities” and mentioned that in almost any portfolio of uncertain benefits, some Price tag estimates will exceed their envisioned price, while some Charge estimates might be fewer. Appropriately, the commenter asserted, percentile values will not be additive, as true variances from estimates would offset each other so which the P70 with the put together results in the portfolio would method the sum of the necessarily mean.
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