Key to designing an appropriate insurance program is understanding the industry, how it works, and the unique vocabulary that goes with it. This course provides an overview of the oil and gas industry and its risks, focusing on the nuts-and-bolts operational aspects and addressing risk management concerns relating to the various processes. The course takes a sequential approach from how petroleum originates and where petroleum deposits exist through the exploration process, the completion process, the transportation process, and the refining process. At each stage the key hazards and risks associated with the process are identified.  

Upon completion, students will be able to:

• identify the elements that make up the anatomy of a well and the techniques used to drill a well
• identify the well drilling characteristics and techniques that are designed to maintain control over a well and prevent or control blowouts
• recognize the structure of a typical well control policy and the coverages, limitations, exclusions, and key issues associated with control of well, extra expense and seepage, pollution, and contamination coverage
• recognize the coverage added by the adoption of optional coverages or endorsements

Property and casualty risk, safety, insurance, and finance professionals