Jubilee Turret – Insurance Update

The Hull & Machinery policy, which is procured on behalf of the Joint Venture, covers relevant operating and capital costs associated with both current operating procedures at the FPSO and the long-term solution. As operator of the Jubilee field, Tullow will now work closely with the loss adjusters and reinsurers to establish an efficient payments schedule as remedial work continues. Tullow also continues to work with its Business Interruption reinsurers on confirming cover for loss of production and revenue caused by the turret bearing failure.