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Code of Federal Regulations (Last Updated: May 6, 2024) |
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Title 30 - Mineral Resources |
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Chapter II - Bureau of Safety and Environmental Enforcement, Department of the Interior |
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SubChapter B - Offshore |
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Part 285 - [Reserved] |
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Subpart J - Rights of Use and Easement for Energy- and Marine-Related Activities Using Existing OCS Facilities |
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Alternate Use RUE Administration |
§ 285.1012 - What financial assurance is required for an Alternate Use RUE?
Latest version.
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(a) The holder of an Alternate Use RUE will be required to secure financial assurances in an amount determined by MMS that is sufficient to cover all obligations under the Alternate Use RUE, including decommissioning obligations, and must retain such financial assurance amounts until all obligations have been fulfilled, as determined by MMS.
(b) We may revise financial assurance amounts, as necessary, to ensure that there is sufficient financial assurance
to secure all obligations under the Alternate Use RUE. (c) We may reduce the amount of the financial assurance that you must retain if it is not necessary to cover existing obligations under the Alternate Use RUE.