US regulators have allotted operators in the Gulf of Mexico a six-month extension to a controversial directive on plug and abandonment obligations for oil and gas properties on the outer continental shelf.
The reprieve from the Bureau of Ocean Energy Management (BOEM) follows an industry outcry, especially from smaller and midsized players, after US offshore agencies began to phase in tougher financial requirements for companies to prove they can afford to decommission properties they explore and produce.
“BOEM’s
