Notice of Public Workshop To Discuss the Possible Need for Suspension of Operations Specifically Related to High Pressure or High Temperature Equipment, 63155-63156 [E7-21895]
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rwilkins on PROD1PC63 with PROPOSALS
Federal Register / Vol. 72, No. 216 / Thursday, November 8, 2007 / Proposed Rules
this section, employer matching
contributions with respect to the
amount withdrawn must be forfeited.
(3) Consent rules. A withdrawal made
under paragraph (c) of this section may
be made without regard to any notice or
consent otherwise required under
section 401(a)(11) or 417.
(e) Definitions. Unless indicated
otherwise, the following definitions
apply for purposes of section 414(w)
and this section.
(1) Applicable employer plan. An
applicable employer plan means a plan
that—
(i) Is qualified under section 401(a);
(ii) Satisfies the requirements of
section 403(b); or
(iii) Is a section 457(b) eligible
governmental plan described in § 1.457–
2(f).
(2) Automatic contribution
arrangement. An automatic contribution
arrangement means an arrangement that
provides for a cash or deferred election
that provides that in the absence of an
eligible employee’s affirmative election,
a default election applies under which
the employee is treated as having
elected to have default elective
contributions made on his or her behalf
under the plan. This default election
ceases to apply with respect to an
employee if the employee makes an
affirmative election (that remains in
effect) to—
(i) Not have any default elective
contributions made on his or her behalf;
or
(ii) Have default elective
contributions made in a different
amount or percentage of compensation.
(3) Default elective contributions.
Default elective contributions means
contributions made at a specified level
or amount under an automatic
contribution arrangement that are—
(i) Contributions described in section
402(g)(3)(A) or 402(g)(3)(C); or
(ii) Contributions made pursuant to a
cash or deferred election within the
meaning of section 457(b)(4) where the
contributions are under a section 457(b)
eligible governmental plan.
(4) Eligible employee. An eligible
employee means an employee who is
eligible to make a cash or deferred
election under the plan.
(f) Effective date. Section 414(w) and
this section apply to plan years
beginning on or after January 1, 2008.
*
*
*
*
*
PART 54—EXCISE TAXES. PENSIONS,
REPORTING AND RECORDKEEPING
REQUIREMENTS
Par. 14. The authority citation for part
54 continues to read in part as follows:
VerDate Aug<31>2005
16:47 Nov 07, 2007
Jkt 214001
Authority: 26 U.S.C. 7805 * * *
Par. 15. Section 54.4979–1(c)(1) is
amended by:
Revising the first and second
sentences of paragraph (c)(1) to read as
follows:
§ 54.4979–1 Excise tax on certain excess
contributions and excess aggregate
contributions.
*
*
*
*
*
(c) No tax when excess distributed
within 21⁄2 months of close of year or
additional employer contributions
made—(1) General rule. No tax is
imposed under this section on any
excess contribution or excess aggregate
contribution, as the case may be, to the
extent the contribution (together with
any income allocable thereto) is
corrected before the close of the first 21⁄2
months of the following plan year (6
months in the case of a plan that
includes an eligible automatic
contribution arrangement within the
meaning of section 414(w)). Qualified
nonelective contributions and qualified
matching contributions taken into
account under § 1.401(k)–2(a)(6) of this
Chapter or qualified nonelective
contributions or elective contributions
taken into account under § 1.401(m)–
2(a)(6) of this Chapter for a plan year
may permit a plan to avoid excess
contributions or excess aggregate
contributions, respectively, even if
made after the close of the 21⁄2 month
period (6 months in the case of a plan
that includes an eligible automatic
contribution arrangement within the
meaning of section 414(w)). * * *
*
*
*
*
*
Linda E. Stiff,
Deputy Commissioner for Services and
Enforcement.
[FR Doc. E7–21821 Filed 11–7–07; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE INTERIOR
Minerals Management Service
30 CFR Part 250
Notice of Public Workshop To Discuss
the Possible Need for Suspension of
Operations Specifically Related to High
Pressure or High Temperature
Equipment
Minerals Management Service
(MMS), Interior.
ACTION: Notice of Public Workshop.
AGENCY:
SUMMARY: The MMS will hold a
workshop to discuss the possible need
to develop a new regulation allowing for
a Suspension of Operations, specifically
PO 00000
Frm 00015
Fmt 4702
Sfmt 4702
63155
related to high pressure or high
temperature equipment needed for safe
drilling, completion, or production
operations. This Suspension of
Operations would allow for an
extension of a lease when the
modification of existing technology is
considered necessary in order to operate
in frontier areas due to unexpected high
temperatures or high pressures
encountered on your lease. This type of
Suspension of Operations would not
apply to the initial design, development,
or manufacturing of new technology.
Workshop Date: January 23, 2008,
beginning at 9 a.m.
Workshop Location:The workshop
will be held at the Gulf of Mexico
Regional Office, Minerals Management
Service, Room 111, 1201 Elmwood Park
Boulevard, New Orleans, Louisiana
70123–2394. All interested parties are
invited to attend.
FOR FURTHER INFORMATION CONTACT:
Carole Danos, MMS, Gulf of Mexico
Outer Continental Shelf Region, Office
of Production and Development, 1201
Elmwood Park Blvd., MS 5300, New
Orleans, Louisiana 70123–2394, e-mail:
carole.danos@mms.gov, telephone (504)
736–2675.
SUPPLEMENTARY INFORMATION: The MMS
received requests from industry to
consider a procedure to grant lease
extensions in order to develop new
technology which may lead to the
production of hydrocarbons. The MMS
will hold a workshop to gain additional
insight from industry to help determine
whether such suspensions would be
warranted. Also to be discussed are the
accompanying data and information that
would be submitted to validate a request
for a lease extension.
Background: Regulations governing
the granting of Suspensions of
Production (SOP) and Suspensions of
Operations (SOO) are found at 30 CFR
250.168–177. Our current regulations
allow MMS to issue SOOs for the
following reasons:
• When necessary to comply with
judicial decrees (see § 250.172(a)).
• When activities pose a threat or
harm to life, environment, or mineral
deposits (see § 250.172(b)).
• For installation of safety or
environmental equipment (see
§ 250.172(c)).
• When necessary to carry out NEPA
requirements (see § 250.172(d)).
• When inordinate delays are
encountered in obtaining required
permits or consents (see § 250.172(e)).
• You fail to comply with a law,
regulation, order, or lease provision (see
§ 250.173(a)).
E:\FR\FM\08NOP1.SGM
08NOP1
63156
Federal Register / Vol. 72, No. 216 / Thursday, November 8, 2007 / Proposed Rules
• The suspension is in the interest of
National security or defense (see
§ 250.173(b)).
• When you are prevented from
drilling or other operations for reasons
beyond your control (see § 250.175(a)).
• When additional time is needed for
potentially drilling under salt sheets
(see § 250.175(b)).
• When additional time is needed to
potentially drill ultra-deep wells (see
§ 250.175(c)).
Suspensions have been limited
because lease maintenance is a very
critical issue to the operator and also to
MMS. Leases expire at the end of their
primary term unless operations
(drilling, well re-working, or production
in paying quantities) are being
conducted. Under current regulations,
only these operations or a suspension
will extend the term of a lease. Unless
the suspension program is properly
designed, it could delay the overall
development of Outer Continental Shelf
(OCS) hydrocarbon resources. The
existence of many deepwater units
further complicates the issue because
units are comprised of multiple leases.
Lastly, this proposed type of suspension
may be regarded as harmful by
associated businesses as it may
postpone drilling and associated
operations.
rwilkins on PROD1PC63 with PROPOSALS
Discussion
The MMS has modified regulations
governing suspensions in the past to
reflect technological challenges, i.e.,
complexities of geophysical imaging
under salt sheets and at extreme depths.
However, the regulations do not allow
for the granting of a SOP or SOO based
on time needed to develop technology.
The MMS will consider proposing a rule
that would allow a SOO to provide
additional time for the technological
improvement of existing surface and
wellbore equipment to promote safety
and protect the environment when High
Pressure (HP) or High Temperature (HT)
beyond the capability of existing
equipment has been encountered on the
lease.
Technology Suspension
The MMS has been approached by
companies that have drilled wells, made
discoveries, but have encountered HT/
HP conditions that create technological
challenges for drilling additional wells
or forming a development plan. The
concept would be to allow a suspension
to address these challenges.
Questions industry presenters should
address:
1. Is this concept warranted? Why?
2. How would MMS define
‘‘technological challenge’’ that would
VerDate Aug<31>2005
16:47 Nov 07, 2007
Jkt 214001
make one eligible for such a
suspension?
3. What other eligibility criteria
should be considered?
4. What would tangible/observable
milestones be for technology
development related to a lease?
5. How long should such a suspension
last, and should it be renewable?
Presentations and Written Comments
The MMS has not decided whether
technology suspensions are warranted.
This workshop is being held to provide
industry with an opportunity to provide
the necessary facts (pros and cons) that
MMS should consider in making a
determination on whether or not to
propose such a rule. Therefore, we
expect industry to play a major role in
this workshop. Requests by parties
interested in making a formal
presentation at the workshop should be
accompanied by a summary of the
material to be covered by the
presentation and an estimate of the
amount of time required. If time
constraints dictate, a time limit may be
placed on individual presentations.
Please address requests to make a
presentation to Carole Danos. Requests
must be received by close of business on
December 7, 2007. Approved presenters
will be notified prior to the workshop.
A final agenda will be posted by
December 21, 2007, on the MMS Web
site at https://www.gomr.mms.gov/
homepg/new/calendr.html. The MMS
encourages written comments
responding to this notice or the
workshop discussions.
DATES: You may submit written
comments by February 22, 2008. The
MMS may not fully consider comments
received after this date.
ADDRESSES: You may submit comments
on this concept by any of the following
methods. Please use ‘‘Technology
Suspension’’ as the heading for your
comments.
• Federal eRulemaking Portal: https://
www.regulations.gov, select ‘‘Minerals
Management Service’’ from the agency
drop-down menu, then click ‘‘submit.’’
In the Docket ID column, select MMS–
2007–OMM–0062 to submit public
comments and to view supporting and
related materials available for this
rulemaking. Information on using
Regulations.gov, including instructions
for accessing documents, submitting
comments, and viewing the docket after
the close of the comment period, is
available through the site’s ‘‘User Tips’’
link. All comments submitted will be
posted to the docket.
• Mail or hand-carry comments to the
Department of the Interior; Minerals
PO 00000
Frm 00016
Fmt 4702
Sfmt 4702
Management Service; Attention:
Regulations and Standards Branch
(RSB); 381 Elden Street, MS–4024,
Herndon, Virginia 20170–4817. Please
reference ‘‘Technology Suspension’’ in
your comments and include your name
and return address.
Registration: There is no registration
fee for this workshop. However, to
assess the number of participants, MMS
requests participants to register with
Carole Danos at (504) 736–2675 or
carole.danos@mms.gov prior to the
meeting. The deadline to register is
January 11, 2008. Seating is limited and
the number of attendees from each
organization may have to be restricted.
Dated: November 2, 2007.
Chris C. Oynes,
Associate Director for Offshore Minerals
Management.
[FR Doc. E7–21895 Filed 11–7–07; 8:45 am]
BILLING CODE 4310–MR–P
DEPARTMENT OF HOMELAND
SECURITY
Coast Guard
33 CFR Part 117
[CGD05–07–100]
RIN 1625–AA09
Drawbridge Operation Regulations:
Isle of Wight Bay (Sinepuxent Bay),
Ocean City, MD
Coast Guard, DHS.
Notice of proposed rulemaking.
AGENCY:
ACTION:
SUMMARY: The Coast Guard proposes to
temporarily change the regulations that
govern the operation of the US 50
Bridge across the Isle of Wight Bay
(Sinepuxent Bay), at mile 0.5, in Ocean
City, MD. The proposal would close the
drawbridge to navigation in order to
facilitate extensive rehabilitation and to
maintain the bridge’s operational
integrity. Vessels that can pass under
the bridge without a bridge opening may
do so at all times.
DATES: The Coast Guard proposes
closing this drawbridge to navigation
beginning at 8 a.m. on January 7, 2008,
through 5 p.m. on February 21, 2008.
Comments and related material must
reach the Coast Guard on or before
December 24, 2007.
ADDRESSES: You may mail comments
and related material to Commander
(dpb), Fifth Coast Guard District,
Federal Building, 4th Floor, 431
Crawford Street, Portsmouth, Virginia
23704–5004, or they may be hand
delivered to the same address between
E:\FR\FM\08NOP1.SGM
08NOP1
]]>Agencies
[Federal Register Volume 72, Number 216 (Thursday, November 8, 2007)]
[Proposed Rules]
[Pages 63155-63156]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-21895]
=======================================================================
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DEPARTMENT OF THE INTERIOR
Minerals Management Service
30 CFR Part 250
Notice of Public Workshop To Discuss the Possible Need for
Suspension of Operations Specifically Related to High Pressure or High
Temperature Equipment
AGENCY: Minerals Management Service (MMS), Interior.
ACTION: Notice of Public Workshop.
-----------------------------------------------------------------------
SUMMARY: The MMS will hold a workshop to discuss the possible need to
develop a new regulation allowing for a Suspension of Operations,
specifically related to high pressure or high temperature equipment
needed for safe drilling, completion, or production operations. This
Suspension of Operations would allow for an extension of a lease when
the modification of existing technology is considered necessary in
order to operate in frontier areas due to unexpected high temperatures
or high pressures encountered on your lease. This type of Suspension of
Operations would not apply to the initial design, development, or
manufacturing of new technology.
Workshop Date: January 23, 2008, beginning at 9 a.m.
Workshop Location:The workshop will be held at the Gulf of Mexico
Regional Office, Minerals Management Service, Room 111, 1201 Elmwood
Park Boulevard, New Orleans, Louisiana 70123-2394. All interested
parties are invited to attend.
FOR FURTHER INFORMATION CONTACT: Carole Danos, MMS, Gulf of Mexico
Outer Continental Shelf Region, Office of Production and Development,
1201 Elmwood Park Blvd., MS 5300, New Orleans, Louisiana 70123-2394, e-
mail: carole.danos@mms.gov, telephone (504) 736-2675.
SUPPLEMENTARY INFORMATION: The MMS received requests from industry to
consider a procedure to grant lease extensions in order to develop new
technology which may lead to the production of hydrocarbons. The MMS
will hold a workshop to gain additional insight from industry to help
determine whether such suspensions would be warranted. Also to be
discussed are the accompanying data and information that would be
submitted to validate a request for a lease extension.
Background: Regulations governing the granting of Suspensions of
Production (SOP) and Suspensions of Operations (SOO) are found at 30
CFR 250.168-177. Our current regulations allow MMS to issue SOOs for
the following reasons:
When necessary to comply with judicial decrees (see Sec.
250.172(a)).
When activities pose a threat or harm to life,
environment, or mineral deposits (see Sec. 250.172(b)).
For installation of safety or environmental equipment (see
Sec. 250.172(c)).
When necessary to carry out NEPA requirements (see Sec.
250.172(d)).
When inordinate delays are encountered in obtaining
required permits or consents (see Sec. 250.172(e)).
You fail to comply with a law, regulation, order, or lease
provision (see Sec. 250.173(a)).
[[Page 63156]]
The suspension is in the interest of National security or
defense (see Sec. 250.173(b)).
When you are prevented from drilling or other operations
for reasons beyond your control (see Sec. 250.175(a)).
When additional time is needed for potentially drilling
under salt sheets (see Sec. 250.175(b)).
When additional time is needed to potentially drill ultra-
deep wells (see Sec. 250.175(c)).
Suspensions have been limited because lease maintenance is a very
critical issue to the operator and also to MMS. Leases expire at the
end of their primary term unless operations (drilling, well re-working,
or production in paying quantities) are being conducted. Under current
regulations, only these operations or a suspension will extend the term
of a lease. Unless the suspension program is properly designed, it
could delay the overall development of Outer Continental Shelf (OCS)
hydrocarbon resources. The existence of many deepwater units further
complicates the issue because units are comprised of multiple leases.
Lastly, this proposed type of suspension may be regarded as harmful by
associated businesses as it may postpone drilling and associated
operations.
Discussion
The MMS has modified regulations governing suspensions in the past
to reflect technological challenges, i.e., complexities of geophysical
imaging under salt sheets and at extreme depths. However, the
regulations do not allow for the granting of a SOP or SOO based on time
needed to develop technology. The MMS will consider proposing a rule
that would allow a SOO to provide additional time for the technological
improvement of existing surface and wellbore equipment to promote
safety and protect the environment when High Pressure (HP) or High
Temperature (HT) beyond the capability of existing equipment has been
encountered on the lease.
Technology Suspension
The MMS has been approached by companies that have drilled wells,
made discoveries, but have encountered HT/HP conditions that create
technological challenges for drilling additional wells or forming a
development plan. The concept would be to allow a suspension to address
these challenges.
Questions industry presenters should address:
1. Is this concept warranted? Why?
2. How would MMS define ``technological challenge'' that would make
one eligible for such a suspension?
3. What other eligibility criteria should be considered?
4. What would tangible/observable milestones be for technology
development related to a lease?
5. How long should such a suspension last, and should it be
renewable?
Presentations and Written Comments
The MMS has not decided whether technology suspensions are
warranted. This workshop is being held to provide industry with an
opportunity to provide the necessary facts (pros and cons) that MMS
should consider in making a determination on whether or not to propose
such a rule. Therefore, we expect industry to play a major role in this
workshop. Requests by parties interested in making a formal
presentation at the workshop should be accompanied by a summary of the
material to be covered by the presentation and an estimate of the
amount of time required. If time constraints dictate, a time limit may
be placed on individual presentations. Please address requests to make
a presentation to Carole Danos. Requests must be received by close of
business on December 7, 2007. Approved presenters will be notified
prior to the workshop. A final agenda will be posted by December 21,
2007, on the MMS Web site at https://www.gomr.mms.gov/homepg/new/
calendr.html. The MMS encourages written comments responding to this
notice or the workshop discussions.
DATES: You may submit written comments by February 22, 2008. The MMS
may not fully consider comments received after this date.
ADDRESSES: You may submit comments on this concept by any of the
following methods. Please use ``Technology Suspension'' as the heading
for your comments.
Federal eRulemaking Portal: https://www.regulations.gov,
select ``Minerals Management Service'' from the agency drop-down menu,
then click ``submit.'' In the Docket ID column, select MMS-2007-OMM-
0062 to submit public comments and to view supporting and related
materials available for this rulemaking. Information on using
Regulations.gov, including instructions for accessing documents,
submitting comments, and viewing the docket after the close of the
comment period, is available through the site's ``User Tips'' link. All
comments submitted will be posted to the docket.
Mail or hand-carry comments to the Department of the
Interior; Minerals Management Service; Attention: Regulations and
Standards Branch (RSB); 381 Elden Street, MS-4024, Herndon, Virginia
20170-4817. Please reference ``Technology Suspension'' in your comments
and include your name and return address.
Registration: There is no registration fee for this workshop.
However, to assess the number of participants, MMS requests
participants to register with Carole Danos at (504) 736-2675 or
carole.danos@mms.gov prior to the meeting. The deadline to register is
January 11, 2008. Seating is limited and the number of attendees from
each organization may have to be restricted.
Dated: November 2, 2007.
Chris C. Oynes,
Associate Director for Offshore Minerals Management.
[FR Doc. E7-21895 Filed 11-7-07; 8:45 am]
BILLING CODE 4310-MR-P
