(a) The primary term of an oil and gas lease will be five years, unless BOEM determines that:
- (1) The lease is located in unusually deep water or involves other unusually adverse conditions; and,
- (2) A lease term longer than five years is necessary to explore and develop the lease.
- (b) If BOEM determines that the criteria in paragraphs (a)(1) and (2) of this section are met, it may specify a longer primary term, not to exceed 10 years.
- (c) BOEM will specify the primary term in the final notice of sale and in the lease instrument.
- (d) The lease will expire at the end of the primary term, unless maintained beyond that term in accordance with the provisions of § 556.601.