ISSUE 5, MARCH 2024
Mike McMahon
Managing Director, Natural Resources,
Charles Taylor Adjusting
E: mike.mcmahon@charlestaylor.com
Welcome to the fifth edition of Elements, Charles Taylor’s adjusting Natural Resources’ periodic newsletter.
In June 2021, during the height of the Covid pandemic, we launched the inaugural edition of Elements, our mission being to deliver cutting-edge insights on the Natural Resources market amidst global uncertainty.
Fast forward to today, while the world has changed, there's still much to discuss. From new energy sources to the ramifications of the Ukraine conflict and the race for net zero, our experts share their views on the evolving energy landscape. Let's dive in!
- In early 2024, we expanded our team in Jakarta with a group of talented engineering adjusters led by Muhammad Andrianasyah. He's contributed an insightful piece on the substantial investments in offshore gas production in Indonesia.
- Emily Spellman has explored the critical role of subsea equipment in offshore construction projects.
- Hugh Sparks delves into the unique challenges of adjusting claims from the Ukraine conflict and shares innovative solutions.
- Louis-Florent Daspre and Joe Brennan recap their compelling presentation on Carbon Capture, Storage, and Utilization at the recent Onshore Energy Conference in London.
- Ed Hillier discusses obsolescence in the rapidly advancing renewable energy sector and the associated challenges for insurers and policyholders.
- Finally, Chris Brown and I provide a perspective on COP 28, which underscored the importance of traditional E&P companies in achieving Net Zero.
So far, Elements has hosted 36 pieces, attracting over 4,000 readers from around the globe. Thanks to your support, Elements continues to grow, with each edition reaching an increasingly wider audience.
We hope that you enjoy this fifth edition and share with your colleagues. Please do let us know what you think and provide any suggestions for improvements in future editions.
In a departure from previous contributions, we have taken stock of our activities and reminded ourselves of our overall ambitions as loss adjusters.
We are a global firm, working in diverse regions of the world. However, our culture is consistent globally and we feel it is worthwhile reminding ourselves of our core values. In doing so, we help to promote consistency of approach and accountability for what we do.
Our Value Proposition includes a Mission Statement, stating our overall objectives; a set of Universal Principles, for consistency of approach; and a Service Level Pledge to enable accountability for what we do.
In reminding ourselves of our culture, we remind our clients of it also. We are committed to being relevant and will continually listen to our clients and stakeholders.
Please feel free to let us know how we might improve. We cannot be what we aspire to be, without you.
At Charles Taylor Natural Resources, we can call upon a team of over 100 expert professionals.
Our focus
...is to deliver the highest quality loss adjusting services to our clients operating in the Natural Resources industry sectors.
Our purpose
...is to provide a solution orientated service, enabling swift and equitable resolution to major and complex claims.
Our mission
...is to add value to every step of the claims process.
The needs and objectives of our stakeholders are of paramount importance. They influence everything we do. We respond swiftly to the changing dynamics of a claim to address challenges and deliver claims certainty for all concerned.
Article 01
Innovative, data-driven adjusting solutions for inaccessible losses
The destruction wreaked on Ukraine by the Russian army has come at an incalculable cost to its people and its communities. While the war rages on, the country can’t yet think about rebuilding for the future.
Article 02
What’s next for the fossil fuel energy industry?
The Oil and Gas industry, particularly in the North Sea and the Norwegian Sector, has been pioneering innovative concepts and technologies since day one. Given the current focus on the environmental impact of the energy sector there is a greater need than ever to push boundaries.
Article 03
Keeping cover relevant in relation to renewable energy asset obsolescence
Most mining operations are of a scale and complexity that when something goes wrong the quantum of loss is often significant. And when the loss is so significant, it is not uncommon for disputes to arise over the insurance claim.
Article 04
The risk and reward of carbon capture and storage
As Qatargas seeks to expand its already mighty LNG empire, the state-owned subsidiary of Qatar Petroleum is using best-in-class processes and world-leading technologies to help meet ever-increasing environmental demands.
Article 05
The outlook for Indonesian upstream oil and gas projects
The 2015 Paris Agreement sets out stringent climate targets for the 190+ signatory countries, more than a dozen of which, including the European Union, have already set their own ‘net-zero’ emissions targets with dates ranging between 2030 and 2050. A growing number of companies and organisations across a range of industry sectors are also adopting ‘net-zero’ emissions targets.
Article 06
Subsea Equipment: Offshore construction and associated claims
With coal becoming an increasingly dirty word, especially in Australia, harnessing what on paper seems like a limitless supply of renewables brings its own set of unique challenges.