Civil Liability and Financial Security for Offshore Oil and Gas Activities [Hardcover]

This book analyses how damage resulting from offshore-related incidents is compensated in European waters, whilst providing models to improve such compensation.This book is for anyone concerned with damage resulting from offshore installations wishing to obtain information on the applicable liability and compensation regime, as well as on the insurance and financial instruments used to provide such compensation.This book is for anyone concerned with damage resulting from offshore installations wishing to obtain information on the applicable liability and compensation regime, as well as on the insurance and financial instruments used to provide such compensation.Civil Liability and Financial Security for Offshore Oil and Gas Activities provides insights into the liability and compensation regime for offshore-related damage. The book analyses the legal regime in a variety of states (including the US and the UK) as well as the EU regime. In addition, the various compensation mechanisms and amounts available today to compensate offshore-related damage are described and critically analysed. Moreover, the book is based on in-depth interviews with a wide variety of relevant stakeholders including insurers, representatives from supervisory authorities, and oil and gas producers. This volume also provides a variety of policy recommendations, formulated to provide an optimal compensation regime for offshore-related damage.List of abbreviations; Contributors; List of figures and tables; 1. Introduction Michael Faure, Niels Philipsen and Hui Wang: 1.1 Background for this book; 1.2 Objective of this book; 1.3 Methodology; 1.4 Structure; 2. Offshore-related damage: facts and figures Kristel De Smedt and Hui Wang: 2.1 General issues concerning offshore activities; 2.2 Location of installations and facilities in the EU; 2.3 Overview of major offshore accidents; 2.4 Analysis of recent offshore accidents in Europe: case studies; 2.5 Analysis of recent offshore accidents outside EU walC%