Before BOEM will . . . | You must provide . . . |
(1) Execute a commercial lease or approve an assignment of an existing commercial lease. | A bond or other authorized financial assurance in the amount of 12 months' rent. |
(2) Allow you to install facilities approved in your SAP | A supplemental bond or other authorized financial assurance in an amount determined by BOEM based on the anticipated decommissioning costs of the proposed facilities. |
(3) Allow you to install facilities approved in your COP | A supplemental bond or other authorized financial assurance in an amount determined by BOEM based on anticipated decommissioning costs of the proposed facilities. If you propose to incrementally fund your financial assurance instrument, BOEM must approve the schedule for providing the appropriate financial assurance. |
30 C.F.R. §585.516