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OFFSHORE ENERGY LOSS-3: Weather’s role importantin marine E&D operations

05/21/2007
The third and final part of this series examines the impact of weather on offshore losses.Weather plays a major role in human activities offshore, and extreme weather in particular is one of the significant perils encountered. Storms and hurricanes regularly challenge and endanger the offshore energy industry, exposing their insurers, owners, and investors to significant capital loss.A statistical assessment of weather damage and loss, broken out by region, time, and loss category is presented for the time horizon 1970-2004 based on the Willis Energy Loss database. We begin with a summary review of the 2005 hurricane season.2005 gulf hurricanesThe 2005 hurricane season in the Gulf of Mexi...
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