SPE highlights importance of offshore risk management (UK)
- Business & Finance
Former Subsea 7 Global Insurance Director, Robert Armstrong, will present on the topic of “Contractual Risk Management from an Insurance Perspective” at a Society of Petroleum Engineers (SPE) Aberdeen event next week.
Armstrong will discuss the role of insurance within the overall risk management strategy of oil & gas companies, and identify areas where this can add value. Drawing from a rich history of insurance claims case studies including the Titanic, Costa Concordia and the Deepwater Horizon, he will add a layer of knowledge from the world of insurance and share his views on where best this can assist in integrating the risk management process across wider business practices and systems.
Recently retired as Global Insurance Manager for Subsea 7, where he was an active member of the International Marine Contractors Association (IMCA), Armstrong now works independently to provide consultancy services to a number of oil and gas contractors including SIEM Industries.
This presentation comes as part of SPE Aberdeen’s Simplified Series, which promotes interdisciplinary industry knowledge sharing from global experts in their respective fields. Armstrong’s presentation will focus on the different phases of risk management, from assessment and mitigation at project concept to post-project risk management, aligned with industry standards.
Armstrong said: “The topic of insurance for offshore projects has been a matter of global concern, since the beginning of the 20th century with the Titanic disaster. Since then, companies and policies have matured, but risk management remains a crucial aspect of any operation. I look forward to sharing my experience in the field and helping the audience understand the importance of risk management as well as its function offshore.”
Anthony Onukwu, Chairman of SPE Aberdeen, said: “Understanding risk management is crucial to protecting project personnel. With more than 35 years of experience in offshore risk management, Mr. Armstrong will provide the audience with an alternative perspective to the usual, more technical O&G topics that SPE presentations focus upon.”
The event will take place from 6.30pm to 8.30pm on 2 April at the Station Hotel.
Press Release, March 31, 2014