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Case Study

Petroplus (Insurance Valuation)

Challenge

The machinery and business assets team were instructed by Petroplus International BV to carry out an insurance valuation of BRC refinery in Antwerp, Belgium, located north of the Port of Antwerp on a 105-hectare site.

Solution

Over the previous two years, our machinery and business asset team had carried out a significant number of insurance valuations for a number of companies at refineries across Europe. They also had recent experience of the insurance valuation of over 40 power stations and a number of opencast coal mines from the same market sector.

This extensive recent experience in this specialised market sector, combined with the detailed cost estimates from our bespoke cost-curve database, put us in a unique position to carry out the most accurate and relevant valuation possible.

Result

Through a combination of onsite and in office work from a number of members of the machinery and business assets insurance valuation team, the project was completed within the agreed time scale and on budget.

Over the last two years, the team has carried out insurance valuations at all Petroplus owned refineries across Europe, covering Germany (Ingolstadt), France (Cressier and Reichstett), Belgium (BRC) and the U.K. (Coryton); and look forward to continuing our relationship with Europe’s largest independent oil refiner in the future.

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