The Operator's Extra Expense (OEE) program provides domestic and multinational exploration and production companies the opportunity to reduce the cost of their risk. Coverage addresses the logistics and financial responses to a well blow out before it happens and the insurance that covers the blow out. This program will cover the costs of bringing a well under control following a blowout. Including expenses resulting from seepage and pollution containment, as well as associated clean-up costs, and the expenditure involved in re-drilling the well to its original depth. Coverage can be provided onshore and offshore, with limits from $2 million to $500 million.
Control of Well Insurance covers expenses incurred in regaining control of a well after 'blowout', and may include:
- Re-drilling Expense (covers the expense incurred in the restoring or the re-drilling of a well after a blowout to the original depth and comparable condition prior to the loss.)
- Liability to pay third party bodily injury, damage to and loss of third party property, the cost of cleanup and defense expenses as a result of a blowout.
- Sudden and Accidental Seepage and Pollution
- Underground Blowout
- Evacuation Expense
- Deliberate Well Firing
- Care Custody and Control