Document Type : Original Research Paper
Authors
1 Faculty member of Faculty of Law and Political Science, University of Tehran, Iran
2 Department of Oil and Gas Law, Faculty of Law and Political Science, University of Tehran, Iran
Abstract
Objective: Obtaining the results of oil and gas upstream operations in order to attract international investments is basically possible by preventing or fully covering the risks caused by them, for which many insurance methods have been used until now, but comprehensive insurance agreements are new innovations whose applications, unfortunately, in the system Iranian law remains unknown and the purpose of writing this article is to identify this insurance method.
Methodology: In order to achieve the goals of the research, the authors have used the library method and reviewed the sample agreements provided by some international insurance companies as well as similar insurance contracts.
Findings: By comparing common insurance methods in the insurance industry and comprehensive insurance agreements, the authors found that spending less time, paying lower insurance premiums, conducting more balanced negotiations, fewer contractual disputes, more flexibility in including insurance coverages, and most importantly the ability Its extension to employers, main contractors and subcontractors involved in an upstream oil and gas project and multiple insurers is one of the benefits of using comprehensive insurance agreements in upstream oil and gas projects.
Conclusion: During the investigations carried out in this article, comprehensive insurance agreements are able to cover the risks of all stages of upstream oil and gas operations, including the stages of exploration, evaluation, development and production, and for risks such as oil seepage from the well, eruption, loss of drilling mud. , drilling tools getting stuck inside the well, wall pipes breaking, damage to equipment during transportation to offshore areas, damage to production and extraction equipment, life and financial damage to third parties, occurrence of environmental pollution, stoppage and delay in the implementation of operations, damage to cargo Mariya and others, under a single agreement, provides insurance coverage, which reveals the necessity of immediate adaptation of this insurance method in upstream oil and gas operations.
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