Web Alert: Standard Bulletin, Offshore Special Edition, November 2013

News & Insights 1 November 2013


Welcome to the eighth Offshore Special Edition of the Standard Bulletin

Please find below an overview of our Standard Bulletin: Offshore Special Edition, November 2013 which can also be found in the attached pdf.

Standard Offshore
Welcome to the eighth Offshore Special Edition of the Standard Bulletin, which coincides with another year of growth for the Club’s offshore business and offshore team. We value feedback from all who read this bulletin and we are always interested in hearing your suggestions for content of the bulletin and the offshore forum.

Environmental liabilities constitute biggest financial risk for oil companies and contractors
Following the Macondo/Deepwater Horizon spill, a number of countries have sought to impose liabilities on oil companies for pollution incidents that massively exceed, on a per barrel basis, the fines that have been or may be imposed upon BP by the US authorities. The implications of this are explored in this article.

Offshore drilling in the Arctic Ocean
While the debate around drilling in the Arctic Ocean has been ongoing since the 1970s, there has been a recent surge in interest as exploitation of the substantial natural oil and gas resources in the Arctic continental shelf is now being considered as a potentially viable option.

On the horizon: US criminal laws vs. offshore operations
Offshore operations in the United States are governed by an overlapping web of international treaties and federal and state environmental laws and regulations. The article provides guidance on potential exposure and how to minimise the risks.

Scope of coverage for additional assureds under Texas law
The article considers a recent important Appeal Court decision, which held that under Texas law the rights of an additional insured named on an insurance policy are governed by the language of the policy and not by the indemnity provisions in the underlying contract. 

New EU Directive on the safety of offshore oil and gas operations
There is currently no comprehensive risk management regime in place as different Member States apply different environmental and health and safety standards. The aim of the Directive is to set minimum standards for safe offshore oil and gas operations and reduce the consequences of major accidents. 

FLNG – operators step hard on the gas
With the demand for global energy expected to triple over the next few decades as emerging economies develop, oil and gas operators are looking toward innovative and pioneering technologies to open up new resources. The world’s demand is not just for more energy, but for cleaner energy. Natural gas, the cleanest of all fossil fuels, offers an affordable and environmentally acceptable source. Floating liquefied natural gas (FLNG) technology offers an effective solution to the problem of producing and exporting gas ashore. 

Singapore as a regional offshore marine hub
Singapore is well positioned to service all aspects of offshore oil and gas operations in the region and is increasing its global reach. It has carefully created the right conditions to make it attractive for foreign companies to set up and operate. This is largely due to the relocation and growth of marine clusters and associated services that are needed to sustain the offshore marine “ecosystem”. The article looks at some of these marine clusters and associated services. 

Overview of training implemented by Swire Pacific Offshore
SPO believes in operating business safely, professionally, responsibly and sustainably. Swire Marine Training Centre’s primary role is to provide training for internal staff, offering ongoing professional development to SPO personnel. As the focal point for marine training, SMTC conducts training courses in numerous disciplines. This article provides information about the training centre and SPO in general. 

New BIMCO WINDTIME Charterparty for windfarm support vessels
On 27 May 2013, the newly developed WINDTIME Standard Offshore Wind Farm Personnel Transfer and Support Vessel Charter Party (WINDTIME) was adopted by BIMCO’s Documentary Committee. This new charterparty has been specifically designed to meet the increasing demand for small high-speed craft capable of transferring personnel and equipment to carry out the maintenance of offshore wind turbines. 

Nairobi Wreck Removal Convention from an offshore perspective
To date, eight countries (including more recently the UK) have ratified the Convention, while five others have signed up to it. We therefore anticipate that the Convention will soon have the force of law and therefore propose in this article to look more closely at its provisions from an offshore point of view. 

The Maritime Labour Convention 2006
The MLC came into force on 20 August 2013. In this article, we discuss several features of the Convention that present distinctive challenges peculiar to the offshore sector.

Categories: Offshore

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