The International Legal Dimension
Edited by Günther Handl and Kristoffer Svendsen
Chapter 9: The role of insurance in offshore oil and gas operations
On the commercial side of offshore oil and gas operations, the number of different parties involved is vast. Thus, different types of contracts, made by different parties, concern different phases of the operations which, in the end, produce the oil or gas ready to be distributed. Given the nature of the business, the risk of harm to either people, properties or to the environment is very high. As is almost always the case, the insurance of the different interests and liabilities involved in such operations plays a crucial role in these activities. This chapter provides an overview of the types of insurance taken out in respect of the operation of offshore oil and gas installations by highlighting the features of those contracts that are specific to such operations.
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