Program: Managing contract risk

Those who do contracting in the oil and gas industry will be gathering next week in Houston for the 10th Annual Program on Contract Risk Management in the Oil & Gas Industry. The event, sponsored by the Strategic Research Institute, is slated for Monday and Tuesday, May 23-24 at the Marriott Houston West Loop.

The big issue this year is how operators ought to handle liability risks related to drilling consultants, a problem with potential “gigantic” liability exposure that insurers don’t want to cover.  The right contracts, say the organizers, can create a “win win win” situation for the operator, the consultant, and the insurer.