OREANDA-NEWS. August 03, 2009. Eurasia Insurance Company has made a claim payment to Egyptian Oil Company, reported the press-centre of Eurasia Insurance Company.

The insured incident occurred in July 2008 when, earth works were being carried out, an excavator damaged a length of 16 inch diameter oil pipe-line from an oil-processing factory to the oil storage depot of Qarun Petroleum Co.

The extent of damage amounted to US539,106. The interest of Qarun Petroleum Co. was reinsured with Eurasia Insurance Company, its share of the claim payment amounting to US5,391.