Civil liability and financial security for offshore oil and gas activities / edited by Michael Faure.

"Civil Liability and Financial Security for Offshore Oil and Gas Activities provides insights into the liability and compensation regime for offshore- related damage. The book analyses the legal regime in a variety of states (including the US and the UK) as well as the EU regime. In addition the various compensation mechanisms and amounts available today to compensate offshore-related damage are described and critically analysed. Moreover, based on in-depth interviews with a wide variety of relevant stakeholders including insurers, representatives from supervisory authorities, and oil and gas producer. This volume also provides a variety of policy recommendations, formulated to provide an optimal compensation regime for offshore-related damage"-- Provided by publisher.

Print version record.

Offshore-Related Damage: Facts and Figures / Kristel de Smedt and Hui Wang -- Analysis of Existing Legal Regimes / Michael Faure, Jing Liu and Hui Wang -- Pooling Mechanisms for Offshore Liability / Michael Faure and Jing Liu -- Use of Financial Market Instruments to Cover Liability Following a Major Offshore Accident / Michael Faure and Hui Wang -- Potential of Financial and Insurance Instruments to Cover Liability Following a Major Offshore Accident / Michael Faure and Hui Wang -- Towards Optimal Liability and Compensation for Offshore Oil and Gas Activities / Kristel de Smedt, Hui Wang and Michael Faure.

Cover ; Half-title page; Title page; Copyright page; Contents; List of Figures and Tables; List of Contributors; Preface and Acknowledgements; List of Abbreviations; 1 Introduction; 1.1 Background for This Book; 1.2 Objective of This Book; 1.3 Methodology; 1.3.1 Legal Analysis; 1.3.2 Law and Economics; 1.3.3 Empirics; 1.3.4 Integration; 1.4 Structure; 2 Offshore-Related Damage: Facts and Figures; 2.1 General Issues Concerning Offshore Activities; 2.1.1 Terminology in Offshore Activities; 2.1.2 Industry Structure of Offshore Activities; 2.1.3 Stakeholders.

2.1.4 Importance of Offshore Activities2.2 Location of Installations and Facilities in the European Union; 2.2.1 General Information; 2.2.2 Offshore Interests in the North Sea; 2.2.3 Offshore Interests in the Mediterranean Sea; 2.3 Overview of Major Offshore Accidents; 2.3.1 Sources of Information; 2.3.1.1 Worldwide Database; 2.3.1.2 National Regulatory Authorities; 2.3.1.3 Regional Database; 2.3.1.4 Industry Database; 2.3.1.5 Observation from Available Data; 2.3.2 Overview of Serious Accidents Involving Offshore Facilities; 2.4 Analysis of Recent Offshore Accidents in Europe: Case Studies.

2.4.1 Gulfaks C Incident (19 May 2010): A Near Miss2.4.2 Valhall PCP Production Platform Fire (13 July 2011); 2.4.3 Escape of Hydrocarbons at Ula Field Norway (12 September 2012); 2.4.4 Gannet Alpha Oil Spill (10 August 2011); 2.4.5 Elgin Platform Blowout (26 March 2012); 2.5 Analysis of Recent Offshore Accidents Outside EU Waters; 2.5.1 Montara; 2.5.1.1 Facts of the Incident; 2.5.1.2 Trans-Boundary Complaints from Indonesia; 2.5.2 Deepwater Horizon; 2.5.2.1 Facts of the Incident and Legal Issues; 2.5.2.2 Overview of Legal Proceedings; 2.5.2.3 Post-Macondo Responses; 2.5.2.4 Summary.

2.5.3 More Accidents in 20152.5.3.1 Petrobras Brazil Offshore Explosion; 2.5.3.2 Pemex Mexico Offshore Accidents; 2.5.4 Risk of a Deepwater Horizon Oil Spill in the European Union?; 2.5.4.1 Different Depths and Pressures; 2.5.4.2 Concerns after Macondo; 2.5.4.3 Expert Evaluation; 2.5.4.4 Limits of Expert Opinion; 2.5.4.5 Summary; 3 Analysis of Existing Legal Regimes; 3.1 Introduction; 3.2 International Legal Framework; 3.2.1 The Civil Liability Convention and the Fund Convention; 3.2.1.1 The Civil Liability Convention; 3.2.1.2 Compensation Funds in the International Regime.

3.2.1.3 Voluntary Mechanisms3.2.2 UNCLOS; 3.2.3 MARPOL 73/78; 3.2.4 The OPRC Convention; 3.2.5 Ongoing Discussion at the IMO; 3.3 Offshore Liability Regimes; 3.3.1 Regional Arrangements; 3.3.2 North-East Atlantic Ocean (North Sea); 3.3.2.1 The OSPAR Convention; 3.3.2.2 The Nordic Convention; 3.3.3 The Mediterranean Sea; 3.3.4 The Baltic Sea; 3.3.5 The Black Sea; 3.3.6 Summary of the Regional Seas Arrangements; 3.4 Current EU Regime on Offshore Activities; 3.4.1 EU Interest in Offshore Activities; 3.4.2 Council Directive 92/91 EEC; 3.4.3 Hydrocarbons Licensing Directive 1994 (94/22/EC).

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