To define the extent and content of such a Convention including the regulation of transboundary liabilities, safety and security aspects. We will assess all offshore installations, whether fixed or mobile, dedicated to any offshore oil and gas activities included for eventual regulation.
For offshore oil and gas activities we understand all those activities related to oil and/or gas exploration, exploitation, and production, including service and assistance activities, most often taking place in the exclusive economic zone (EEZ) and on the continental shelf of coastal states and also, but less frequently, in international waters.
OUR ASSESSMENT: Will include the main features and characteristics of offshore activities, with special reference to environmental consequences, civil liability, and financial security for compensation of social and environmental damages.
ON THE OFFSHORE LIABILITY FUND: On how to apportion contributions to replenish such a fund, we propose to follow the illustrative and useful discussions that produced the apportioning criteria for the IOPC Funds, a successful international convention experience. We will analyze the appropriateness of the Offshore Liability Fund having two layers of compensation, the first one to be under liability of the offshore operator/licensee, compulsorily insured up to a certain amount, and a second layer with a higher cap to afford claims that exceed the first layer and when the operator/licensee is not liable (as in the CLC and Fund Conventions).
We will also assess the feasibility and appropriateness of compensating pure environmental losses, something left out by the IOPC Funds.