Understanding the Oil and Gas Industry and Its Risks

Course Details

This course is not subject to discount pricing.

Additional Credit Available:

Add AFIS Renewal Credit
Add CRIS Renewal Credit
Add MRIS Renewal Credit
Add MLIS Renewal Credit
Add TRIP Renewal Credit
Add Insurance CE

Delivery Method: 

QAS Self-Study

PDF Download: 


Provider of Record: 


Field of Study: 

Specialized Knowledge



Access Period:

12 months

Exam Requirements

Proctor Required: 


Passing Grade: 






Please note: Adding Additional Credit may change exam requirements.


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.  

Learning Objectives

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

Designed For

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

International Risk Management Institute, Inc. (IRMI) is the premier provider of risk and insurance continuing education and reference publications, and is considered the ultimate authority by leading insurance practitioners. Written by industry experts, IRMI courses provide the most up-to-date, practical and reliable information possible.

Advanced Preparation


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