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(b) Report on transboundary hydrocarbon reservoirs.—
(1) IN GENERAL.—Not later than 18 months after the date of enactment of this Act, the Secretaries shall jointly submit to the Committee on Energy and Natural Resources and the Committee on Foreign Relations of the Senate and the Committee on Energy and Commerce, the Committee on Natural Resources, and the Committee on Foreign Affairs of the House of Representatives a report that includes the following:
(A) An identification and assessment of any existing transboundary hydrocarbon reservoirs, including those covered by bilateral maritime boundary treaties and agreements, and any potential transboundary areas for future exploration, development, and production of hydrocarbons.
(B) An analysis of the legal frameworks established by relevant maritime boundary treaties and agreements, including provisions related to the equitable exploration, development, and production of transboundary hydrocarbon reservoirs and mechanisms for resolving disputes, and their adoption by counterparty nations.
(C) An evaluation of the potential economic, environmental, and geopolitical implications of transboundary hydrocarbon exploration, development, and production, including impacts on domestic energy security, greenhouse gas emissions, and international relations.
(D) Recommendations for enhancing cooperation and coordination among the United States and neighboring countries in the exploration, development, and production of transboundary hydrocarbon reservoirs, including mechanisms for information sharing, joint exploration, development, and production, and dispute resolution.
(E) Data and insights derived from recent collaborative efforts between the United States and Canada, such as seismic data collection, and an analysis of how such efforts can inform the delineation of maritime boundaries.
(F) An examination of unresolved maritime boundaries between the United States and Canada, particularly those involving potential transboundary hydrocarbon reservoirs, and an identification of potential legal and diplomatic avenues to resolve disputes over such boundaries, including the possibility of involving international judicial bodies such as the International Court of Justice or a chamber constituted by such Court pursuant to a special agreement between the parties.
(G) A review of existing data on the potential for shared exploration, development, and production of transboundary hydrocarbon reservoirs in disputed maritime zones between the United States and Canada, with recommendations for further studies or negotiations to address uncertainties and maximize joint exploration, development, and production opportunities.
(H) A comprehensive review of activities by neighboring countries, including Cuba, Mexico, Canada, the Bahamas, and Russia, regarding the exploration, development, seismic surveying, drilling, production, or any other activity related to transboundary hydrocarbon reservoirs, which such review shall include the status of any bilateral or multilateral agreements, an assessment of foreign exploration, development, and production efforts within transboundary zones adjacent to United States maritime boundaries, and an analysis of the potential implications of these activities for United States energy security, environmental impacts, and geopolitical considerations.
(2) OTHER REQUIREMENTS.—In preparing the report required to be submitted under paragraph (1), the Secretaries shall—
(A) prioritize the acquisition and use of advanced geophysical, geological, and geotechnical data and methods;
(B) acquire and apply new and emerging modeling and analytic technologies, including data analysis tools, quantum computing, artificial intelligence, modeling, and geographic information systems, to approximate the quantity and establish a peer-reviewed range of resources in each regional planning area with a discussion of the upper and lower bound of the estimates with that discussion to include recommendations as to how to reduce the range of uncertainty; and
(C) in partnership with other relevant Federal agencies, including the National Science Foundation, the National Oceanic and Atmospheric Administration, and the Office of Naval Research, utilize any existing maritime vessels or deployed capability, including any geophysical, geological, or related mapping technologies.