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Code · U.S. Code · Title 10 - ARMED FORCES · CHAPTER 869— NAVAL PETROLEUM RESERVES · § 3404

§ 3404. DISPOSAL OF NAVAL PETROLEUM RESERVE NUMBERED 3.

177 words·~1 min read·/usc/title-10/section-3404

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Administration Pending Termination of Operations .— The Secretary of Energy shall continue to administer Naval Petroleum Reserve Numbered 3 in accordance with chapter 641 [now 869] of title 10, United States Code, until such time as the Secretary makes a determination to abandon oil and gas operations in Naval Petroleum Reserve Numbered 3 in accordance with commercial operating practices. Disposal Authorized .— After oil and gas operations are abandoned in Naval Petroleum Reserve Numbered 3, the Secretary of Energy may dispose of the reserve as provided in this subsection.
Subject to section 3406, the Secretary shall carry out any such disposal of the reserve by sale or lease or by transfer to another Federal agency. Any sale or lease shall provide for the disposal of all right, title, and interest of the United States in the property to be conveyed and shall be conducted in accordance with competitive procedures consistent with commercial practices, as established by the Secretary. Relationship to Antitrust Laws .— This section does not modify, impair, or supersede the operation of the antitrust laws.
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