Drilling rig

{
  "id": "MLC-T-INS-001222",
  "term": "Drilling rig",
  "field": "Insurance and risk management",
  "definition": "The integrated system of equipment used to drill a wellbore for oil, gas, or water extraction. It includes the derrick or mast, hoisting and rotating equipment, mud circulation systems, and power generation facilities. These complex, high-value assets present substantial property and liability risks, which are managed through specialized insurance policies covering physical damage, operational liabilities, and potential pollution events.",
  "url": "https://mlchart.com/terminology/insurance/drilling-rig/"
}