Liability for incidents falls under a ‘polluter pays’ principle. As an operator, you must demonstrate financial assurance that upstream activities are fully covered, including potential costs, expenses and liabilities. Determining the level of financial assurance required when the "worst case" credible spill scenario for your well exceeds the limits defined by the regulator is a complex task, based on individual operations and reliable data. Understanding the cost of operational response, cost of clean up / remediation and cost of environmental monitoring is key to ensure your environmental plan is accepted and to reduce the risk of regulatory delays.
Join our webinar where Ian Thomas, our expert voice on financial assurance, will cover:
- A standardised approach - - The Australian Petroleum Production and Exploration Association (APPEA) model verification case study.
- 10 key learnings before calculation
- Power of data: calculating the costs
- The importance to challenge/review existing assumptions and expectations