Oil operations and drilling
Insurance oil operations is a set of types of insurance risks associated with the implementation of petroleum operations: property insurance, unforeseen costs associated with the loss of control of the borehole, insurance of civil liability for damage to life, health or property of third parties and the environment, employer's liability insurance for injury to the employees in performance of their job duties.
The following is subject to insurance
- buildings and structures, transmission devices;
- pipelines (oil and gas);
- housings and mechanisms of drilling platforms;
- specialized devices and equipment used in exploration and prospecting;
- spare parts, assemblies, and other materials on operation and maintenance of oil and gas wells;
- drilling solutions or formation fluids in reservoirs;
- finished products stored in special storage and transported through oil and gas pipelines;
- unfinished production and capital construction;
- other oil property and equipment;
- additional costs of the insurant, associated with the loss of control over the borehole drilling and re-insurance of wells recovery, or any part thereof, removing of debris, dismantling, demolition, strengthening of destroyed (damaged) property.
Insurance tariffs are set individually taking into account of specific activities and regional conditions.