JRC Consultation: EED 8/86 draft updates

The Joint Rig Committee (JRC) and Joint Energy Claims Group (JECG) have undertaken a review of the Energy Exploration and Development, August 1986 Form (EED 8/86). The review was to update areas within EED8/86 where there were known complications in adjusting losses, rather than a full review and rewrite. Additionally, a number of commonly used endorsements were reviewed and updated to align with the updated draft Form. Accordingly, the JRC and JECG invite the market via this two-month consultation to provide comments regarding the draft suite of documents. All documents have been provided in MS Word format, so please provide your comments and questions by using the ‘Track Changes’ function. Attached you will find the following updated draft model documents for your review, consideration and comment:

EED Form
EED Care, Custody and Control Endorsement
EED Casing Failure Endorsement
EED Contingent Joint Venture Endorsement
EED Deliberate Well Firing Endorsement
EED Extended Redrill Endorsement
EED Insurance Act 2015 Endorsement
EED Multi-Wells Pad Aggregate Limit Endorsement
EED Named Perils Loss Prevention Endorsement (formerly the Making Wells Safe Endorsement)
EED Removal of Debris Endorsement
EED Underbalanced and Producing While Drilling Endorsement
EED Underground Control of Well Endorsement
EED Wells Insured Sunset Endorsement

If there are additional endorsements which you feel should be considered for publication, please make such a suggestion and where possible provide a draft model clause. Responses to this consultation should be sent to lma@lmalloyds.com prior to 5pm on Tuesday 11 May 2021.

Thank you in advance for your consideration and we look forward to hearing from you with your comments in due course.

James Straker-Nesbit
Secretary
Joint Rig Committee