It is also one of the most sophisticated and diverse industries as it involves so many complex areas – from initial studies to identify areas with favourable geological conditions, to aerial and seismic surveys to exploration, well evaluations, development and production, transportation and refining.
The industry also requires significant investments in highly sophisticated equipment and tools, manpower and their management and more.
It is imperative therefore that your insurance broker has an in depth understanding of the Oil and Gas business and can ensure you are protected in case something goes wrong.
