Energy

Energy

Some 167 crew members lost their lives in a July, 1988 fire and explosion aboard the Piper Alpha oil platform in the North Sea. The incident, which caused property damage losses of $1.8 billion in 2013 dollars, represents the largest single property damage event in a Marsh’s study of losses in the energy industry from 1972 to 2013.

 

TOP 20 WORLD PROPERTY DAMAGE LOSSES IN THE HYDROCARBON INDUSTRY (1)

(US $ millions)

Rank Date Plant type Event type Location Country Property loss (2)
1 Jul. 7, 1988 Upstream Explosion/fire Piper Alpha, North Sea U.K. $1,810
2 Oct. 23,1989 Petrochem Vapour cloud explosion Pasadena, Texas U.S. 1,400
3 Jan. 19, 2004 Gas processing Explosion/fire Skikda Algeria 940
4 Jun. 4, 2009 Upstream Collision Norwegian Sector North Sea 840
5 Mar. 19, 1989 Upstream Explosion/fire Gulf of Mexico U.S. 830
6 Jun. 25, 2000 Refinery Explosion/fire Mina Al-Ahmadi Kuwait 820
7 May 15, 2001 Upstream Explosion/fire/sinking Campos Basin Brasil 790
8 Sep. 25, 1998 Gas processing Explosion Longford, Victoria Australia 750
9 Apr. 24, 1988 Upstream Blowout Enchova, Campos Basin Brazil 700
10 Sep. 21, 2001 Petrochemical Explosion Toulouse France 680
11 May 4, 1988 Petrochemical Explosion Henderson, Nevada U.S. 640
12 May 5, 1988 Refinery Vapour cloud explosion Norco, Louisiana U.S. 610
13 Mar. 11, 2011  Refinery Earthquake (3) Sendai Japan 600
14 Apr. 21, 2010 Upstream Blowout/explosion/fire Gulf of Mexico U.S. 600
15 Sep. 12, 2008 Refinery Hurricane Texas U.S. 550
16 Jun. 13, 2013 Petrochemical Explosion/fire Geismar, Louisiana U.S. 510
17 Apr. 2, 2013 Refinery Flooding/fire La Plata, Ensenada Argentina 500 (4)
18 Dec. 25, 1997 Gas processing Explosion/fire Bintulu, Sarawak Malaysia 490
19 Jul. 27, 2005 Upstream Collision/fire Mumbai High North Field India 480
20 Nov. 14, 1987 Petrochemical Vapour cloud explosion Pampa, Texas USA 480

(1) Property damage, debris removal and clean-up costs.
(2) Inflated to December 2013 values.
(3) Loss to refinery following the Tohuku earthquake.
(4) Preliminary.

Source:  Energy Practice, Marsh & McLennan Companies.

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