COVERING THE RISK OF DEEPWATER EXPLORATION AND PRODUCTION
August 1st, 2013
THE INSURANCE risks involved in oil and gas exploration and production (E&P) are rising in line with growing industry complexity and the move into deeper, remoter and more environmentally sensitive environments.This is placing ever greater demands on the need to identify, quantify and insure against risk, particularly when the financial and reputational repercussions of getting it wrong are escalating too.The 2010 fatal accident and subsequent oil spill in BP’s Macondo field in the Gulf of Mexico, the largest such spill in US history, has so far cost the ...
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