Oil, Gas and Petrochemical Insurance

Maintaining and protecting the huge capital in oil, gas and petrochemical industries, in both erection and operating projects which (due to high incident they have) are always expose to process hazards and natural disasters are obviously important and so a special attention to risk management and insurance as the most effective solution is required in this regard.

Considering the wide scope of activities of the oil and gas industry, from the large and sensitive upstream industries to the downstream industries, as well as the variety of insurance needs in this area, Parsian Insurance Company, based on international standards and common legal and contractual requirements, designs and provides several policies to meet the needs of this industry. Oil, gas and petrochemical policies cover a wide range of erection and operating projects in the two main categories of onshore and offshore insurance.

Onshore Insurance

Onshore insurance policies are issued for land-based activities and covers operations related to the exploration and extraction of oil and gas (including wells, facilities, operations and drilling machines), oil and gas refineries, development of oil and gas refineries, operation of petrochemical plants, construction and installation of oil, gas and petrochemical plants, oil refineries, oil tanks and pipelines in operation.

Some of the insurance policies of the oil, gas, and petrochemical industry (Onshore):

Property All Risk:

For refineries, petrochemicals and all process industries.
Erection All Risk (EAR):
For construction and installation refineries, petrochemicals, process industries, pipelines and other oil and gas units.
Operating Extra Expenses (OEE):
For drilling oil and gas wells and during drilling or production.

Machinery Insurance (MI):

For onshore drilling rigs, drilling equipment and all related contractor machinery.

Comprehensive Liability Insurance:

For all legal and contractual liability of third parties and damage caused by pollution.

Offshore Insurance

Offshore insurance policies are issued for see-based activities including wells, facilities, operations and marine drilling machines), the construction of offshore drilling rigs, loading jackets, decks, etc. on the Barge and its transportation and deployment Offshore drilling rigs, rebuilding offshore drilling rigs, offshore drilling rigs, offshore drilling and pipelines being exploited at sea, and other oil and gas exploration and extraction activities in the sea.

Some of the insurance policies of the oil, gas, and petrochemical industry (Offshore):

Platforms, pipelines and marine exploitation units insurance:

For oil and gas production platforms, floating storage facilities and pipelines and pipelines being used.
WELCAR2001:
For construction, construction and installation of platforms, pipelines and all marine structures.

Operating Extra Expenses (OEE):

For drilling and oil and gas wells during drilling or production.

Offshore Drilling Rigs (MODU):

For marine drilling rigs, jack-ups and related equipment.
Comprehensive Liability Insurance:
For all legal and contractual liability of third parties and damage caused by pollution.

Parsian Insurance Company, having the technical and specialized team in this field and also the capacity to directly maintain and manage risk, as one of the active members of the energy insurance consortium is also a major contributor to the major risks facing the country's energy industry.

Some of the major oil and gas companies in the country where the Parsian Insurance Company is proud to provide insurance services to them:

Persia Oil & Gas Industry Development Company
Mapna Group- Map Driller 1 (Jacket)
SAFF Group
Petro Gohar Farasahel Kish (PDFK)
Abadan Petrochemical Company
Navid Zar Chimi Petrochemical Company
Ghaede Basir Petrochemical Company
Takhte-Jamshid Petrochemical Company
Sepahan Oil Company
Pars Oil Company
Jey Oil Product Company
Tadbir Drilling Development Company
Sarvak Azar Engineering and Development Company
Petro Danial Kish Company and etc.