Tullow Oil said it has received confirmation from its insurers that they accept a recoverable claims for the Jubilee turret.
It comes after it was damaged earlier this year.
The company had previously revealed the Hull and Machinery cover for Jubilee has also been confirmed.
In a statement, Tullow said the the Business Interruption policy which was procured for its interest in its major producing assets, covers loss of revenues as a result of production outages.
The cover invludes production losses at the Jubilee Field associated with the failure of the bearing and the downtime associated with the work programme to re-establish normal operations.
Tullow said it will work closely with the loss adjusters and insurers to establish and efficient payments schedule as remedial work continues.
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