Offshore Oil and Gas Interstate Compacts Act

Offshore Oil and Gas Interstate Compacts Act - Title I: Purposes - States the purposes of this Act.

Title II: Amendments to the Coastal Zone Management Act - Authorizes grants for two or more contiguous coastal zone States to negotiate and enter into compacts for coordination, study, planning, and implementation of a sound management program for the land and water resources of the coastal zones of the compact member States.

Title III: Amemdments to the Outer Continental Shelf Lands Act - Provides that no oil or gas lease for lands adjacent to the coastal zone of any compact member States may be issued pursuant to this Act unless the lease requires that development be carried out in accordance with a development plan submitted by the lessee to the compact agency, and found by the compact agency to meet the requirements of the leasing and development plan issued by the compact agency pursuant to this Act.

Authorizes the compact agency to conduct such surveillance and enforcement activities as it deems necessary to insure compliance with this Act.

Alters the present method of disposition of revenues under the Outer Continental Shelf Lands Act to provide for payments of funds to compact agencies to be used as the agency may deem appropriate.

Authorizes grants for compact member States adjacent to Outer Continental Shelf lands on which oil or natural gas is being produced or compact member States who are permitting crude oil or natural gas to be landed in its coastal zone.

Authorizes to be appropriated specified sums for fiscal years 1976, 1977 and 1978 for grants or loans under this title.

Directs the Secretary of the Interior to carry out a Federal Outer Continental Shelf oil and gas exploration program for determining whether commercial quantities of oil and gas are present, and the geographical extent of the field and estimates of the recoverable reserves in order to provide a basis for: (1) developing an oil and gas leasing and development plan pursuant to this Act; (2) improving the information regarding the value of public resources and revenues which should be expected from leasing; (3) increasing the competition among producers of oil and gas by providing data and information to all potential bidders equally and equitably; and (4) providing the public with information on the extent and value of the public resources being offered for sale.

Authorizes to be appropriated $200,000,000 to carry out such exploration programs during fiscal years 1976 and 1977, to the Secretary and to appropriate Federal agencies having responsibilities under this Act.