P-values) of decommissioning expenses for every OCS facility on any supplied lease. These values characterize the likelihood of masking the total price of decommissioning a facility being a proportion; as an example, P70 represents a 70 % chance of covering the total cost of decommissioning a facility. The Department is finalizing, as proposed, using the P70 decommissioning estimate worth to ascertain the amount of supplemental money assurance demanded from the latest lessee that doesn't meet the money waiver requirements. If probabilistic estimates will not be readily available, then BOEM will utilize the accessible deterministic values. BOEM also notes that using the BSEE P70 worth only demonstrates the level of supplemental monetary assurance Which might be required to fulfill decommissioning obligations and isn't going to replicate the overall cost of corrective action that may be required to carry a lease or grant into compliance.
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24, raised that it “may very well be go through as that contains a preference for activities in the Area over the exercise from the freedoms in the significant seas” (p. seventeen). Without a doubt, as being a damaging appropriate, liberty of navigation, which include for protesting, click here doesn't represent a license to interfere Along with the exercising of optimistic rights
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An extra commenter observed that BOEM should clear away the term and definition of issuer credit rating from part 550 since it is just not Employed in the part. Response:
One commenter expressed assistance for The brand new “Monetary assurance” expression and pointed out that it supported “the breadth and optionality during the proposed” definition. Response:
Therefore, it does not tackle “rights with respect to functions in the Area.” Additionally, the Resolution does not address unauthorized boarding and pursuits on board the ship with the obtaining close of the protest, which interfere with these legal rights.
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BOEM agrees With all the commenters that the decommissioning legal responsibility shouldn't be double counted; it is not the Bureau's intent to double depend the decommissioning liability. The laws are obvious that BOEM is asking for the discounted price of the reserves ( e.g.,