University of Tehran Journal Of Researches Energy Law Studies 2538-3140 2 1 2016 03 20 Insuring risks of Petroleum Projects Insuring risks of Petroleum Projects 145 166 61023 10.22059/jrels.2016.61023 FA Ahmad Momenirad Assistant professor of public law at faculty of law and political science of Tehran university Mostafa Maddahinasab PhD student of oil and gas law at Tehran university 0000-0002-0598-4980 Journal Article 2016 07 20 Petroleum industry is one of the riskiest industries. There are a lot of risks in this industry, specially in upstream field where activities such as exploration, development, and production should be taken over. In every different paces of this industry there are many risks which threaten both benefits of employer and contractor. On one side employer is concerned about the reservoir and environmental pollution and on the other side contractor is worry about his large amount of investment, spent on the project. therefore both parties need to manage their risks. One of the most important methods of managing risks is insurance coverage for the risks. According to the risks there is variety of insurance coverage for diverse risks, in this article within generally illustrating existing risks in petroleum industry, diverse kinds of insurance coverage has been explained. And generally the role of insurance in this industry will be discussed. Petroleum industry is one of the riskiest industries. There are a lot of risks in this industry, specially in upstream field where activities such as exploration, development, and production should be taken over. In every different paces of this industry there are many risks which threaten both benefits of employer and contractor. On one side employer is concerned about the reservoir and environmental pollution and on the other side contractor is worry about his large amount of investment, spent on the project. therefore both parties need to manage their risks. One of the most important methods of managing risks is insurance coverage for the risks. According to the risks there is variety of insurance coverage for diverse risks, in this article within generally illustrating existing risks in petroleum industry, diverse kinds of insurance coverage has been explained. And generally the role of insurance in this industry will be discussed. https://jrels.ut.ac.ir/article_61023_dd3121d70c3e80fa1a2dbbfee63797bf.pdf