Risk Management is a core function for the company, mainly as Al Koot operates as the risk manager for Qatar Petroleum, and in turn the Oil and Gas industry in the region.
Al Koot remains the acting captive insurer to the QP group companies and its subsidiaries, assisting as consultant to QP group companies, and as such is responsible for providing guidance on risk management, the reviewing of contracts, giving detailed and project specific insurance advice and all associated and ancillary services to the various departments within these group companies.
The main functions of the department relate to risk identification and analysis, risk control and the treatment of risk. Within these areas, records management, contingency planning and analysis of whether to retain or transfer risk are the main factors we consider.The department is responsible for working with all other departments within Al Koot, to establish a clear set of procedures to ensure the element of risk in our business is managed in the most efficient way and continually monitored. Al Koot advises its clients in respect of risk management and all related matters.