IIBC – Wellsite Abandonment Webinar
by Insurance Institute of BC
February 13, 2024
Webinar Date & Time:
Tuesday, February 13, 2024 8:00 – 11:15 am PDT
There are in the order of 100,000 wells in Alberta, 30,000 wells in Saskatchewan and up to 10,000 wells in British Columbia that are inactive and require abandonment. The cost of this work is estimated to exceed $70 billion and take many years.
Adjusters, Brokers and Underwriters interested in finding out the processes and practices of wellsite abandonment and reclamation in the oil & gas industry should attend. We will look at the well as it exists and the requirements and risks to abandon the well.
We will quickly review some of the legal concepts around pollution losses and the application of the various Pollution Exclusion used by the industry. We return to the standard MSA and JOA and examine risk allocation clauses associated with Environment Liability. And finally, we review some of the phases in a pollution cleanup event.
Webinar Objectives
Technical:
• Magnitude of the Problem
• Emergency Preparedness Requirements
• Downwhole Equipment and Abandonment
• Typical Cost Examples
• Typical Job Opportunities
Legal Implications:
• Statue – Federal & Provincial
• Tort – Nuisance, Negligence, Strict Liability, Trespass
• Contracts – MSA’s and JOA’s Reciprocal Clauses, ADI’s, Waivers, etc.
• Gross vs. Ordinary Negligence
CGL Pollution Exclusions/Coverages:
• Total/Absolute/Sudden & Accidental/Contractors
• O&G Limitation Endorsement
Pollution Cleanup Phases:
• Reporting
• Remediation
Webinar Presenters:
George Sutherland, B.Sc, M. Sc Geology
Arnie Zippel, B.Comm, CIP
Number of Continuing Education Credits: 3 Technical CE Credit (BC)
Registration Deadline: February 12, 2024
Fees: Before GST. Insurance Institute membership required
$90.48 IIBC Member
$80.95 CIP Society Member
+$85.71 New Member (includes membership expiring May 31, 2024)
Corporate Rate: $72.86 per attendee for groups of 5 or more (membership is additional for new members). To register with a corporate rate, please contact Winnie at whon@insuranceinstitute.ca .
Questions?
Winnie Hon, CIP, Seminars & Events Specialist
Insurance Institute of BC
E: whon@insuranceinstitute.ca | T: 604.678.5747
Visit event’s website
https://www.insuranceinstitute.ca/en/Events
