Legal Analysis of Insurance Clauses in Daywork Offshore Drilling Contracts: Implications for Risk Management and Liability Allocation
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T.Z. Taha
Published 29 February 2024
Abstract
Offshore drilling operations are inherently risky due to various hazards. Consequently, drilling contractors are required to purchase insurance that covers their financial responsibility which might arise out of drilling services. However, offshore drilling contracts usually have an insurance clause that explicitly specifies the contractor’s obligation to acquire coverage. The impact of insurance clauses is contingent on the language and content of the contract itself. The English court has always emphasised the importance of construing a written contract based on its literal interpretation. Therefore, this paper endeavors to provide a comprehensive analysis of these clauses to determine the legal issues and highlight the implications of insurance clauses. Moreover, it will demonstrate how the plain meaning of such provisions can significantly affect the allocation of liability between the parties of offshore drilling agreements.
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Suggested Citation
T.Z. Taha (2024, forthcoming) "Legal Analysis of Insurance Clauses in Daywork Offshore Drilling Contracts: Implications for Risk Management and Liability Allocation"
(OGEL, ISSN 1875-418X) February 2024, www.ogel.org
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