To amend the Outer Continental Shelf Lands Act to provide for the proper Federal management and oversight of transboundary hydrocarbon reservoirs, and for other purposes.
Committees
Senate Energy and Natural Resources Committee
Bill Summary
(This measure has not been amended since it was reported to the House on June 6, 2013. The summary of that version is repeated here.) Outer Continental Shelf Transboundary Hydrocarbon Agreements Authorization Act - Title I: Amendment to the Outer Continental Shelf Lands Act - (Sec. 101) Amends the Outer Continental Shelf Lands Act (OCSLA) to authorize the Secretary of the Interior to implement any agreement for the management of transboundary hydrocarbon reservoirs entered into by the President and approved by Congress. Prescribes procedures for submission of such agreements to Congress. Authorizes the Secretary to implement the terms of the Agreement between the United States of America and the United Mexican States Concerning Transboundary Hydrocarbon Reservoirs in the Gulf of Mexico, signed at Los Cabos, February 20, 2012 (the Agreement), including: (1) approving unitization agreements and related arrangements for the exploration, development, or production of oil and natural gas from transboundary reservoirs or geological structures; (2) making available, subject to the agreement's confidentiality protections, information pertaining to such activities that may be considered confidential, privileged, or proprietary; and (3) ensuring that only the operator, lessee, or inspection staff at the Bureau of Safety and Environmental Enforcement have authority to stop work on such activities on any production site attached to the U.S. seabed. Exempts from resources extraction reporting requirements under the Securities Exchange Act of 1934 any actions taken by a public company in accordance with a transboundary hydrocarbon agreement. Prohibits this Act from being construed as: (1) authorizing the Secretary to participate in any negotiations, conferences, or consultations with Cuba regarding exploration, development, or production of hydrocarbon resources in the Gulf of Mexico along the U.S. maritime border with Cuba (including the area known as the "Eastern Gap"); or (2) affecting U.S. sovereign rights and jurisdiction over the outer Continental Shelf which appertains to it. Title II: Approval of Transboundary Hydrocarbon Agreement - (Sec. 201) Approves the Agreement.
To amend the Outer Continental Shelf Lands Act to provide for the proper Federal management and oversight of transboundary hydrocarbon reservoirs, and for other purposes.
(This measure has not been amended since it was reported to the House on June 6, 2013. The summary of that version is repeated here.) Outer Continental Shelf Transboundary Hydrocarbon Agreements Authorization Act - Title I: Amendment to the Outer Continental Shelf Lands Act - (Sec. 101) Amends the Outer Continental Shelf Lands Act (OCSLA) to authorize the Secretary of the Interior to implement any agreement for the management of transboundary hydrocarbon reservoirs entered into by the President and approved by Congress. Prescribes procedures for submission of such agreements to Congress. Authorizes the Secretary to implement the terms of the Agreement between the United States of America and the United Mexican States Concerning Transboundary Hydrocarbon Reservoirs in the Gulf of Mexico, signed at Los Cabos, February 20, 2012 (the Agreement), including: (1) approving unitization agreements and related arrangements for the exploration, development, or production of oil and natural gas from transboundary reservoirs or geological structures; (2) making available, subject to the agreement's confidentiality protections, information pertaining to such activities that may be considered confidential, privileged, or proprietary; and (3) ensuring that only the operator, lessee, or inspection staff at the Bureau of Safety and Environmental Enforcement have authority to stop work on such activities on any production site attached to the U.S. seabed. Exempts from resources extraction reporting requirements under the Securities Exchange Act of 1934 any actions taken by a public company in accordance with a transboundary hydrocarbon agreement. Prohibits this Act from being construed as: (1) authorizing the Secretary to participate in any negotiations, conferences, or consultations with Cuba regarding exploration, development, or production of hydrocarbon resources in the Gulf of Mexico along the U.S. maritime border with Cuba (including the area known as the "Eastern Gap"); or (2) affecting U.S. sovereign rights and jurisdiction over the outer Continental Shelf which appertains to it. Title II: Approval of Transboundary Hydrocarbon Agreement - (Sec. 201) Approves the Agreement.