There are several industries that drive our economy and the oil and gas industry is one of them. This dynamic industry is constantly evolving, along with many of the exposures associated with this line of work. From drilling operations to service contractors, and even part manufacturers, there are concerns that need to be addressed through every step of the process.
Agents that deal in oil and gas insurance in New Mexico understand the complexities you face and can help you by providing several products and services that can help oil and gas companies such as yours protect their employees, most or all of their physical assets, keep their balance sheets healthy, and help them to continue their long term goal of keeping the US at the forefront of the natural resources industry.
Environmental concerns rank high on everyone’s list
Since we first began mining natural resources, the impact of pollution losses from an oil spill or gas leak will not only do serious harm to the environment, buy can also be damaging to a company’s reputation.
For operators working in this state, oil and gas companies performing regular preventive maintenance on aging pipelines can help put themselves in a much better position by doing everything possible to control their pollution risks. Having a program to proactively check and replace aging pipes can be especially important over time. This must also include responding quickly after hurricanes and other natural disasters cause damage to oilrigs and other drilling equipment.
Preventive maintenance is essential. Investing capital into maintaining infrastructure will help to reduce the likelihood of any losses occurring. Anyone can respond to the scene after pollution damage has occurred, but unfortunately any damage that has occurred could have a lasting impact. By scheduling periodic inspections, it will allow your company to identify and repair potentially damaged pipes and other pertinent equipment.
It’s vital to document policies and procedures in order to ensure that your equipment is always in good working order. You should account for pipelines, flow lines, gathering systems, tank batteries, salt water tanks and other equipment specific to your operations that might very well present a pollution risk. Accidents are often unavoidable, so having oil and gas insurance in New Mexico will help bear the cost of expensive clean ups when an accident does occur.