Alberta Purchasing #554-NPP

Direct Award: Risk Assessment Study for Oil & Gas Closure Financial Instruments

The Alberta Energy Regulator (AER) is directly awarding a contract to Marsh for a specialized study on risk assessment and implementation options for closure financial instruments in the oil and gas sector. - Government Buyer: - Alberta Energy Regulator (AER) - OEMs and Vendors: - Marsh (selected as the uniquely qualified vendor) - Products/Services Requested: - Professional risk assessment and consultation services - Study will analyze traditional and non-traditional financial security options, including captive insurance, reciprocals, and member protection funds - Objective is to develop an asset-attached, financially secure closure funding system to reduce long-term liability risk and support the energy sector - Unique/Notable Requirements: - Marsh chosen for its expertise in risk protection, insurance funding, and enterprise risk management - No physical products are being procured; focus is on expert services and consultation

Description

The Alberta Energy Regulator (AER) intends to enter into an agreement with Marsh to conduct a risk analysis of closure financial instruments for the oil and gas sector. This study aims to align with leading practices and explore options beyond the current financial security framework limited to Cash and Letter of Credit. The goal is to develop an asset-attached, financially secure closure funding system that reduces long-term liability risk to Albertans while supporting a viable energy sector. Marsh is uniquely qualified due to their expertise in risk protection, insurance funding options, and enterprise risk management services.

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