Department of Interior Proposes New Financial Assurance and Decommissioning Regulations
The Energy Law
OCTOBER 15, 2020
A prior lessee could be held liable for decommissioning a hurricane-toppled platform years after its exit and completion of all lease decommissioning obligations. BOEM determined that the risk of loss through a bank failure is minimal, and, practically speaking, BOEM’s security does not depend on FDIC insurance.
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