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Liberty International Underwriters 2 Houston Marine Insurance Seminar September 17 th, 2007 T. T. Tommy Laurendine, P.E. Risk Engineer Liberty International.

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Presentation on theme: "Liberty International Underwriters 2 Houston Marine Insurance Seminar September 17 th, 2007 T. T. Tommy Laurendine, P.E. Risk Engineer Liberty International."— Presentation transcript:

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2 Liberty International Underwriters 2 Houston Marine Insurance Seminar September 17 th, 2007 T. T. Tommy Laurendine, P.E. Risk Engineer Liberty International Underwriters (713) 470 – 5823

3 Liberty International Underwriters 3 Role Offshore Structural Engineering Plays in Understanding Risk

4 Liberty International Underwriters 4 Gulf Of Mexico (GOM) RISK is from hurricane WAVES HurricaneInsured Loss Ivan$1.4 B Katrina$6 B Rita$6 B Total $13.4 B

5 Liberty International Underwriters 5 4,000 platforms 35,000 miles of pipelines 15,000 wells 2 Million BOPD 12 Billion SCFD 2 nd Largest Source of Income GOM National Treasure

6 Liberty International Underwriters 6 Platform Installations and Removals by Year Average Number of Platforms: Installed = 132 per year, Removed = 129 per year Data as of 04/17/07

7 Liberty International Underwriters 7 GOM Structures by Vintage and Water Depth (DATA AS OF JULY 1, 2007)

8 Liberty International Underwriters 8 Destroyed by Hurricane Ivan Mudslide Wave-in-Deck

9 Liberty International Underwriters 9 Storm Tracks and Extent of Hurricane Winds

10 Liberty International Underwriters 10 Moored SEMIS Adrift in RITA Before Rita

11 Liberty International Underwriters 11 Platform Destroyed by Drifting SEMI

12 Liberty International Underwriters 12 Tension-Leg Platform (TLP) Destroyed by Waves in Hurricane Rita

13 Liberty International Underwriters 13 Platforms Destroyed by Katrina / Rita

14 Liberty International Underwriters 14 Increased Cost of Decommissioning Increased Demand on Resources

15 Liberty International Underwriters 15 GOM: Unique Challenge

16 Liberty International Underwriters 16 API Exposure Categories based on Life Safety and Environmental Pollution High Consequence Medium Consequence Low Consequence

17 Liberty International Underwriters 17 Platform Characteristics Deck Height Orientation Exposure Category Framing Original Design Criteria Structure Type Age Water Depth Number of Conductors Location

18 Liberty International Underwriters 18 Waterline Underside of Deck Deck Height vs. Air Gap

19 Liberty International Underwriters 19 Wave-in-Deck Damage

20 Liberty International Underwriters 20 Inadequate Deck Height due to Subsidence The seafloor at this location has subsided 10 feet. The (+)10 is at the waterline.

21 Liberty International Underwriters 21 Platform Orientation

22 Liberty International Underwriters O Platform North True North 360 O API BULLETIN 2INT-MET Principal Wave Heading is 290 O for this platform. Platform Orientation

23 Liberty International Underwriters 23 AGE Pre RP 2A 7.6% Failed Early RP 2A 2% Failed Modern RP 2A 1.5% Failed

24 Liberty International Underwriters 24 Mitigation Before After Reduce Consequence of Failure 1.Reduce Load on Platform 2.Increase Strength of Platform

25 Liberty International Underwriters 25 Driving force to mitigate was to reduce the chance of having to spend resources dealing with the expensive task of P&A wells on bottom. Why Mitigate?

26 Liberty International Underwriters 26 Contingent Business Interruption

27 Liberty International Underwriters 27 API HEAT WORK Principal Wave Heading varies from 270 o to 345 o by Longitude 270° 290°

28 Liberty International Underwriters 28 Five New Recommended Practices

29 Liberty International Underwriters 29 Water Depth, MLLW (ft) 10 Year 25 Year 50 Year 100 Year 200 Year 1000 Year 2000 Year Year Hmax (ft) Maximum Wave Height by Return Period

30 Liberty International Underwriters 30 Water Depth, MLLW (ft) 1% 0.1% Hmax (ft) Fixed Structure Wave Force = f(Hmax) 2 28% increase in wave height = 64% increase in wave force Structures are typically designed to have a resistance 50 to 67% beyond the design load. 28%

31 Liberty International Underwriters 31 Schedule Issues Inconsistent Format –Field Name versus Area and Block –Naming EC, East Cameron, East Cam, E. Cameron Out of Date Information –Removed platform included in schedule –New Installations not included Missing Data –Deck Height –Type of Structure Incorrect Data –Lat/Long Wrong –Wrong Water Depth –Wrong Installation Year

32 Liberty International Underwriters 32 Standardize Schedule Format OSTS Inspection Report –Required by CFR, Annually on Nov 1 st –Since 1988 –Each Platform Documented OSTS Assessment Report –Requested by NTL –Over 75% of platforms documented with the MMS in June 2004 voluntarily by Operators Complex Id and Structure No. Unique

33 Liberty International Underwriters 33 OSTS Inspection Report

34 Liberty International Underwriters 34 OSTS Assessment Report

35 Liberty International Underwriters 35 Schedule & Data Risk Engineer Broker Underwriter Risk Manager Adjuster Key Stakeholders

36 Liberty International Underwriters 36 Benefits of Standardized Schedule Consistent Format More Timely Underwriter Response More Accurate Insurance Policy Reduce Burden on ALL Stakeholders Greater Communication Improve Our Business

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