Liability Provision Guidelines for Offshore Petroleum Operations – Issue 2
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The guidelines aim to assist licensees in demonstrating they can cover their costs for control, response and compensation for any unintended and uncontrolled release of hydrocarbons that might result from their activities. Issue 2 updates the original 2018 publication to expand the geographical scope of the guideline to include the Irish Sea and Liverpool Bay sites. No further changes have been made.
OEUK’s Guidelines are intended to assist licensees in fulfilling their obligations under the Offshore Petroleum Licensing (Offshore Safety Directive) Regulations 2015, in making adequate financial provisions to cover liabilities potentially deriving from their offshore petroleum operations.
To estimate the liability provision required to be maintained and demonstrated by licensees it is necessary to estimate the potential consequences which might result from an offshore pollution incident and a well blow-out in particular.
These Guidelines propose methods to assess the two elements of this cost:
• the cost of bringing a well under control following a blowout
• the cost of clean-up and legal liability to pay compensation to third parties for pollution damage.
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