The move by the Interior Department’s Bureau of Ocean Energy Management is designed to ensure that the companies have set aside enough money to dismantle offshore facilities once oil and gas stops flowing.
Although other gravel islands have been built in the Beaufort Sea, Hilcorp’s proposed Liberty project would be the first oil production facility located entirely in federal waters off the Alaska coast.
The Interior Department is poised to issue standards to close what it says are gaps in blowout preventer rules. Such a device failed catastrophically when a BP well blew out in 2010, causing a massive oil spill.
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