seabet Secrets
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In reaction to commenters' recommendations that BOEM add clarification that this selection is accessible for altered instances or for getting new lease interests, BOEM believes that the proposed textual content in thirty CFR 556.
Furthermore, the Division proposed the usage of a ratio of the worth of proved reserves to decommissioning legal responsibility linked to All those reserves that satisfies or exceeds a worth of 3-to-one. As talked about while in the preamble to your proposed rule (88 FR 42148), BOEM thinks that a assets with a sufficient “reserves-to-decommissioning cost” ratio would most likely be bought by An additional firm if a existing lessee defaults on its obligations, thereby lowering the risk that decommissioning costs for that home could be borne by the government, and consequently reducing the need for supplemental fiscal assurance.
A summary of all opinions obtained regarding transfers and BOEM's corresponding responses pertaining to revisions to transfers can be found in section six.two of the Reaction to Public Comments.
BOEM isn't going to feel the time period “fiscal assurance” is ever used like a “course of action for furnishing security” On this rulemaking and, as an alternative, is used to describe any of several different types of securities which BOEM accepts to ensure overall performance of obligations. Therefore, BOEM believes the term and connected definition is acceptable.
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Quite a few commenters asserted that the worth of decommissioning legal responsibility needs to be extra back to your reserve value in order to avoid double counting.
Many commenters expressed concerns that the preamble to your proposed rule alluded to checking of credit get more info score rankings, but the regulatory text didn't mention the monitoring.
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I is not going to tackle other significant difficulties from the realm of Dutch and Danish domestic legal orders, such as their interactions with the European human rights program, or perhaps the competence with the ISA and its organs.
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unduly interfered with NORI’s exercise of rights about pursuits in the region. Third, I conclude which the Netherlands breached its flag Condition due diligence obligation to make certain Dutch ships never interfere this kind of legal rights.
BOEM disagrees While using the commenter's assertion that there “is no require for” place-vast money assurance requirements for RUEs. RUE holders have decommissioning duty and not only that of shelling out rentals. Region-huge coverage is not becoming essential but currently being available as a substitute to independently bonding Every single RUE. In reaction to the suggestion that BOEM and BSEE really should mandate entire ownership filings for ROW and RUEs, we Observe that is outdoors the scope of the rulemaking. As reviewed in the preamble towards the proposed rule at 88 FR 42144, the proposed rule at thirty CFR 550.166(a)(one) would permit any lessee which has previously posted space-broad lease economic assurance to switch that lease surety bond to also cover any RUE(s) in the area owned by precisely the same lessee. A chance to use the area-broad lease fiscal assurance to deal with the RUE foundation monetary assurance will be subject matter to the requirement that the realm-extensive lease economical assurance would be within an amount of money equal to or larger compared to the RUE base economic assurance prerequisite.
Each time I've contacted their livechat for updates I have been educated that my account is less than review, Nevertheless they could not provide a particular timeframe for its completion.