Bureau of Ocean Energy Management

The current program runs from July 1, 2024-June 30, 2029

"BOEM is responsible for all Outer Continental Shelf (OCS) leasing policy and program development issues for oil, gas and other marine minerals."

"BOEM’s oil and gas energy programs fall roughly into three categories: Scheduling oil and gas lease sales; holding lease sales and managing the subsequent leases; and reviewing exploration and development plans of private industry operators."

"BOEM’s Resource Evaluation activities support all the bureau’s program areas, both energy and non-energy, through critical technical and economic analysis.

The program’s primary objectives are:

To provide an assessment of both discovered and undiscovered oil and gas resources on the Outer Continental Shelf (OCS).
To assure receipt of Fair Market Value (FMV) on OCS lands as mandated by the OCS Lands Act.
To assess carbon storage resources on the OCS."

"Economics is a critical component of the work completed at BOEM. BOEM’s mission is to manage development of U.S. Outer Continental Shelf energy and mineral resources in an environmentally and economically responsible way."

"The Risk Management Policy Group develops a financial risk policy designed to protect the United States from financial loss when a leaseholder or operator is unable to pay rents, royalties, or perform required decommissioning. Financial risk policies address both conventional energy and renewable energy activity on the Outer Continental Shelf."