About the Service
Operators Extra Expense insurance protects the insured company (field operator or drilling contractor) against well blowout incidents, restore or redrilling extra expenses.
Purpose of Cover
- To protect the financial interests of companies engaged in the drilling, exploration and production activities on oil and gas fields
Insured Events
- Well out of control (well blowout)
Scope of Indemnity
Includes, but is not limited to:- Costs incurred during restoring control on the well
- Redrilling costs, including the cost of redrilling the well to the depth reached before control was lost
- Third-party liability arising from environmental pollution caused by the loss of well control, including clean-up and evacuation expenses
