Insurance of project risks in the development of oil and gas fields

Abstract

For successful functioning of Russian oil and gas companies in modern conditions it is necessary to make timely and qualified, using foreign experience, decisions in the environment of risk and uncertainty in order to avoid curve losses and, consequently, to increase stability in the market. For decision-making in the risk and uncertainty environment, the apparatus of risk management is used, which includes identification, identification, assessment and choice of risk reduction methods. One of the most widespread methods of risk reduction is insurance, which covers a huge number of specific risks in oil and gas production and, in particular, in oil and gas field development. Let us distinguish these risks: the risk of oil, gas blowout from the well, the risk of environmental pollution and the risk of liability to third parties.