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The Bureau of Ocean Energy Management (BOEM) announced it has launched a new Web-based tool that provides oil and gas industry users with the ability to submit online requests for company, qualification, merger, and bonding information for review and approval.
Before a company can bid on, hold, or operate an oil and gas lease, it must submit certain information and documents to BOEM to establish that it is qualified to be a lessee. The Technical Information Management System (TIMS) company and bonding applications are Web-based programs that will help expedite the process.
The company processes within the system are comprised of qualification, qualification update, change of name, business conversion, and merger. Bonding processes including new surety bond, surety bond rider, surety bond replacement, surety bond termination request, and surety bond cancellation request.
The data management tool will reduce errors through data validation of submitted documents and improve operating efficiency with real–time access to industry information and data.