Bureau of Ocean Energy Management Announces Increase in Liability Limit of Offshore Facilities Under OPA 90 Effective May 15, 2023 - Limit Increased 21.9%

             On Friday, April 14, 2023, the Bureau of Ocean Energy Management (BOEM) announced the increase in the limit of liability for offshore facilities under OPA 90 (33 U.S.C. Sec. 2701 et seq.). The last increase in the statutory limit of liability under OPA 90 occurred in January, 2018 based on the annual CPI on 2016. The latest CPI index was released in 2022. Comparing the 2016 CPI with the 2022 CPI, the liability limit for offshore facilities is increased by 21.9% to $167.8069 million from $137,659,500. The new limit goes into effect May 15, 2023.

            A copy of the announcement in the Federal Register may be found at:

https://www.govinfo.gov/content/pkg/FR-2023-04-14/pdf/2023-07931.pdf