Oil , Gas , Energy and Petrochemical insurance

Maintaining and protecting the huge capital in oil, gas and petrochemical industries, in both Erection and Operating projects which (due to high incident they have) are always expose to process hazards and natural disasters are obviously important and so a special attention to risk management and insurance as the most effective solution is required in this regard.

Considering the wide scope of activities of the oil and gas industry, from the large and sensitive upstream industries to the downstream industries, as well as the variety of insurance needs in this area, Iran Insurance Company, based on international standards and common legal and contractual requirements, designs and provides several policies to meet the needs of this industry.

Oil, gas and petrochemical policies cover a wide range of erection and operating projects in the two main categories of onshore and offshore insurance.

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.