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Deepwater Ports and Licensing

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Deepwater Ports and Licensing
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Licensing Requirements

1. Financial Responsibility

Applicants must be financially able to construct, own and operate the deepwater port, and must provide a financial guarantee or bond sufficient to meet all costs for complete removal of all components of the deepwater port upon revocation or termination of the...

About the Deepwater Port Act

The Deepwater Port Act of 1974 (DWPA), as amended, establishes a licensing system for ownership, construction, operation, and decommissioning of deepwater port structures located beyond the U.S. territorial sea for the import and export of oil and natural gas. The DWPA sets out conditions that...