§ 285.433 What must I do after my lease or grant terminates?
(a) After your lease or grant terminates, you must:
(1) Make all payments due; and
(2) Perform any other outstanding obligations under the lease or grant within 6 months.
(b) Within 2 years following termination of a lease or grant, you must remove or dispose of all facilities, installations, and other devices permanently or temporarily attached to the seabed on the OCS in accordance with your Plan approved by BOEM under 30 CFR part 585, subpart F, and your application approved by BSEE under subpart I of this part.
(c) If you fail to comply with your approved decommissioning plan or application:
(1) BOEM may call for the forfeiture of your financial assurance; and
(2) You remain liable for removal or disposal costs and responsible for accidents or damages that might result from such failure.