USI Taps AIMS LLC for Well Inspections in Shale Plays
Assurance Integrity Management Services LLC (AIMS LLC) announced today an appointment with USI Insurance Services (USI) to provide rigs-inspection services in shale and other unconventional formations including the Eagle Ford, Barnett, Marcellus and Bakken plays in the US. To support the agreement, AIMS formed the Well Integrity Program (WIP) as the umbrella program under which all of the inspections will be conducted, documented and certified.
AIMS will inspect and certify drilling rigs, blowout preventers, diverter systems, wellhead casing connectors and all other pressurized connections to deliver documentation to USI for insurance purposes. Examples of these certifications include statements that all inspected equipment is functioning correctly; that the first one-second-below-the-well location does not contain dangerous gas pockets; that the tubulars are certified by the American Petroleum Institute and are not procured from Russia or China; and that the well site is located in a safe drilling areas, among other aspects. The insurance contracts are typically held by the well operator or drilling contractor.
USI is the underwriter for most of the oil and gas industry’s rollout and well-control insurance policies sold by retail insurers such as Lockton Cos., Infinity Assurance Group (IAG), Travelers Indemnity Co. and Aeon Insurance Group Inc. (AEON), among others.
“We predict that about 650 US wells will require this type of insurance during the next two years,” says Steve Hill, principal of AIMS LLC. “This is a new endeavor for AIMS LLC, and it’s an extension of our technical expertise with our core business of vendor, shipyard and rig inspections. We are honored that USI chose AIMS LLC as one of their preferred inspection and certification providers.”
USI Insurance Services is the US-based arm of international commercial insurer, Lloyds of London. USI is a national insurance brokerage and consulting firm that provides property and casualty, employee benefits and personal risk and retirement solutions in the US. Headquartered in Valhalla, New York, USI has more than $1 billion in revenue, employs more than 4,400 professionals and operates out of 140 local offices.