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Method for Assessment of Indemnity/Insurance of Petroleum Authorisation Holders

This report reviews the existing Irish regime for approving offshore exploration drilling and the requirements of other jurisdictions, with respect to ensuring the applicant has adequate financial provision to cover liabilities potentially deriving from the applicant's offshore activities, including effective emergency response and subsequent remediation and potential economic damages (where such liability is provided for by national law) as required by EU Directive 2013/30.

The report recommends an approach resulting from a review of other jurisdictions' approaches to assessing the suitability of applicants' proposed financial arrangements and discussions with the Department of Communications, Climate Action and Environment (DCCAE), Commission for Energy Regulation (CER), Irish Coast Guard (IRCG) and the Irish Offshore Operators Association (IOOA).

Publication Documents

 

 

Method for Assessment of indemnity/insurance of Petroleum Authorisation Holdershttps://www.dccae.gov.ie/en-ie/natural-resources/publications/Documents/22/BRANDED Report Final A, 29 June 17.pdfMethod for Assessment of indemnity/insurance of Petroleum Authorisation Holders25/06/2017 23:00:00pdf2382272