From protecting the environment from pollution and safeguarding dependent economies, to improving responses and limiting consequences in case of an oil spill, liability for incidents falls under a 'polluter pays' principle. As an operator, you are wholly responsible during exploration and production, the question is, can you demonstrate sufficient financial assurance that upstream activities are fully covered?
Determining the level of financial assurance is a complex task, based on individual operations and the right data. It demands more than a simple adding up of the figures. In fact, the last thing you should do when determining financial assurance for an oil spill is pick up the calculator.
Download our latest whitepaper where our insight will help you determine the adequate level of financial assurance required in a worst-case, upstream incident.
- Defining the credible worst case
- Data problems and power
- Seven steps to data verification
- Ten key learnings