Operators extra expense (OEE)

{
  "id": "MLC-T-INS-002423",
  "term": "Operators extra expense (OEE)",
  "field": "Insurance and risk management",
  "definition": "A coverage for oil and gas operators that pays the cost of regaining control of a well that blows out or otherwise gets out of control, plus the cost of redrilling or restoring the well and cleaning up pollution from it. It extends to cratering, where the ground around the wellhead collapses. The coverage is separate from insurance on the rig and carries its own limit for each well.",
  "abbreviation": "OEE",
  "url": "https://mlchart.com/terminology/insurance/operators-extra-expense-oee/"
}