Energy

At AlKoot Insurance, our leading energy insurance solutions are tailored to meet the complex needs of the energy sector, including oil, gas, and renewable energy industries. Designed to mitigate risks across exploration, production, and distribution stages, our policies provide comprehensive coverage for onshore and offshore assets, equipment, and personnel.  

With a focus on industry-leading practices and robust risk management, we ensure your operations are safeguarded against unforeseen events. Partner with AlKoot for reliable protection in Qatar’s dynamic energy landscape. 

Coverage 

AlKoot has a competent and experienced technical team with proven track record of managing major energy and power risks locally as well as internationally. We provide coverage for all type of upstream, midstream and downstream activities during construction and operational phases to meet our client’s diverse requirements including the following: 

▪ Property Damage: Provides coverage against unforeseen sudden and accidental physical damage or destruction to the tangible property insured including but not limited to onshore/offshore assets. 

▪ Business Interruption: Covers the loss of income due to a reduction in the turnover and increased cost of working that a business may suffer after an insured physical loss resulting in loss of income. 

▪ Control of Well and Re-Drilling Expenses Insurance: Covers cost of control of well, re-drilling expenses, seepage, pollution and contamination liability including clean-up expenses, making well safe, extended re-drilling, underground blowout and care custody and control.     

▪ Machinery Breakdown: Covers all types of fixed immovable machinery, such as steam boilers, pressure vessels, refrigerators, air conditioning systems, generators, pumps, engine, turbines and transformers against mechanical or electrical breakdown. 

▪ Contractors All Risks (CAR) / Erection All Risks (EAR): Physical loss or damage to the contract works of project under construction, erection or installation of machinery plant and steel structures including materials, equipment forming part of the project, materials under storage and transit to the site. Coverage may also extend to include loss or damage to owners existing property. Legal liability to third parties in respect of bodily injury and property damage in connection with the execution of a construction project.  

▪ Third-Party Liability: All corporations face the possibility of incurring financial obligations due to claims that may be brought by a third party against them. AlKoot Third-Party Liability Insurance covers indemnifying the assured against their liability to pay damages (including claimants’ costs, fees and expenses) in accordance with the bodily injury or property damage sustained by a third party arising out of the business insured. 

We offer cover for both Onshore and Offshore Liability risks. 

Extent of Coverage/Occupancies Covered: We provide coverage for upstream, midstream and downstream energy activities including storage and distribution, refining, gas processing, petrochemical and chemical operations which can be further classified as appended: 

• Upstream Risks - these risks are either onshore or offshore with the following items insured: 
• Oil and gas exploration, development and production assets anda activities including both offshore and onshore. 
• Operators extra expenses 
• Production platforms 
• Mobile offshore drilling units 
• Floating production storage off-loading units 
• Construction activities 

• Midstream Risks - the midstream operations often include the elements of both the upstream and downstream sectors and insure the following: 
• Terminals and tank farms 
• Liquified Natural Gas (LNG) 
• Oil/Gas separation plants 
• Pipelines 
• Oil and gas distribution networks 

• Downstream Risks - these cover the operations involved in the marketing and distribution of products derived from crude oil and natural gas including power plants. We insure: 
• Oil refineries 
• Petrochemicals complex 
• Chemical plants 
• Gas plants 
• Fertilizer plants 
• Power plants 
• Wind power projects 

Territories: In addition to Qatar our territorial scope covers various territories including Middle East and GCC, Pakistan, Indian sub-continent, Turkey, Thailand, Indonesia, Philippines, South Africa, STAN Countries (Uzbekistan, Turkmenistan, and Kazakhstan),  Azerbaijan and Africa where we can accept risks subject to our satisfactory underwriting review and presence of lead terms form a reputable reinsurer.