Information for Prospective Members
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What are the obligations if no offshore operations are
being carried out?
The only obligation of a party not involved in offshore operations
is to pay the annual membership fee of £Stg.500. It should,
however, designate the licences for which it is the operator,
so that when operations commence, facilities involved are automatically
brought within the scope of OPOL.
What other action is necessary prior to the commencement
of operations?
The licence having previously been designated on Form C, evidence
of financial responsibility must be filed with the Association
prior to the commencement of operations.
Why is evidence of financial responsibility necessary?
This is a protection to the party and claimants so as to ensure
that the party has made adequate provision to meet the obligations
assumed under OPOL. It also protects the other parties to the
extent that they have agreed jointly to contribute to the payment
of claims due from a party that fails to meet is obligations.
Who provides evidence of financial responsibility?
The operator must provide either evidence of financial responsibility
in respect of the total venture or evidence of financial responsibility
in respect of its interest in the venture. The latter will constitute
confirmation that it has verified evidence of non-operator's
financial responsibility to it in respect of all remaining interests
in the venture. In the event of a default by any of the participants,
the operator remains responsible for the whole venture.
more information for
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