Control of well insurance

In the years 1990–2005, the average loss per annum for losses exceeding US$1,000,000 was US$320,000,000. This does not include the impact of windstorm losses in the Gulf of Mexico, where, in 2005, Hurricanes Rita and Katrina gave rise to considerable loss payments for re-drills or well restoration (approx. US$ 1.7bn) in connection with property damage to the rigs.