Oil , Gas , Energy and Petrochemical insurance

Oil, Gas & Petrochemical Insurance | Projects & Operations

Oil, Gas, and Petrochemical Project & Operations Insurance

Protecting the massive capital investment in the oil, gas, and petrochemical industries is crucial. Due to the high-risk nature of these sectors, both Erection (construction) and Operating (operational) projects are constantly exposed to catastrophic process hazards and natural disasters. A specialized focus on risk management and insurance is the single most effective solution.

Considering the vast scope of the energy sector, from sensitive upstream exploration to complex downstream industries, the need for tailored coverage is paramount. Iran Insurance Company leverages international standards and common legal/contractual requirements to design and provide a range of comprehensive Oil and Gas Insurance policies.

Comprehensive Energy Insurance Solutions

Our solutions cover the entire lifecycle of energy assets, protecting a wide spectrum of erection and operating risks within two main categories:

1. Onshore Energy Insurance: Coverage for refining, petrochemical plants, pipelines, and all land-based facilities.
2. Offshore Energy Insurance: Specialized policies for drilling rigs, platforms, subsea pipelines, and marine exploration projects.

Secure your critical energy assets with Iran Insurance Company.

Onshore insurance

In Iran there are many of insured onshore infrastructure .

Onshore insurance policies are issued for land-based activities and covers operations related to the exploration and extraction of oil and gas (including wells, facilities, operations and drilling machines), oil and gas refineries, development of oil and gas refineries, operation of petrochemical plants, construction and installation of oil, gas and petrochemical plants, oil refineries, oil tanks and pipelines in operation.

Property All Risk insurance

For Oil, Gas and Energy in Iran, we issue PAR for Refineries, Petrochemicals and all process industries.

ErectionAll Risk (EAR) for construction and installation refineries, petrochemicals, process industries, pipelines and other oil and gas units.

And operating Extra Expenses (OEE) for drilling oil and gas wells and during drilling or production.

Machinery insurance

Machinery insurance (MI) in Iran often use for onshore drilling rigs, drilling equipment and all related contractor machinery.

Type of Risk

- Offshore Physical Damage for platforms, sub-sea pipelines
- Operators Extra Expense (control of well insurance)
- Hull & Machinery, Loss of Hire, and P&I for offshore drilling rigs, FPSO’s, Drill ships and the like
- Business Interruption, Loss of Production Income
- Land Rigs associated drilling equipment
- Offshore Construction Projects

Offshore insurance

Offshore insurance policies are issued for see-based activities including:

Wells
Facilities
Operations and marine drilling machines
The construction of offshore drilling rigs
Loading jackets, decks, etc. on the Barge and its transportation
Deployment Offshore drilling rigs
Rebuilding offshore drilling rigs
Offhore drilling rigs
Offshore drilling and pipelines being exploited at sea,
Other oil and gas exploration and extraction activities in the sea.

Some of the insurance policies of the Oil, Gas, and Petrochemical industry (Offshore):
- Platforms, Pipelines and Marine exploitation units insurance:
- For oil and gas production platforms, floating storage facilities and pipelines and pipelines being used. WELCAR2001
- For construction, construction and installation of platforms, pipelines and all marine structures.

Offshore Drilling Rigs insurance

Offshore Drilling Rigs (MODU) use for marine drilling rigs, jack-ups and related equipment.
Bime Iran Insurance Company, have the technical and specialized team in this field for many years and also the capacity to directly maintain and manage risk, as most active members of the energy insurance consortium is also a major contributor to the major risks facing the country's energy industry.