IISA – Wellsite Abandonment
by Insurance Institute of Southern Alberta
February 13, 2024
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.
Visit event’s website
https://www.insuranceinstitute.ca/en/institutes-and-chapters/Southern-Alberta/Seminars/Seminar-Details?seminarId=14629
