The offshore oil and gas industry has suffered minimal damage in the wake of Hurricane Gustav.

That is according to John Jenks, chief executive officer of Anemos Insurance Management Ltd., an offshore energy business underwriter which writes offshore energy business on behalf of Ironshore Insurance Ltd, who said that there had been "absolutely minimal damage" to the offshore installations in its portfolio.

Speaking on Friday, he said the storms following in Gustav's wake, Hanna, Ike and Josephine, were not expected to affect the Gulf of Mexico region where the installations for which Anemos writes 100 percent of its business are based. Yesterday's updated forecasts suggested Ike could head for the Gulf, however.

Mr. Jenks explained that when a hurricane comes into the Gulf of Mexico, his company relays the track it is expected to take and models it according to what the likely outcome will be.

After it has passed through, RMS, Anemos' main catastrophe modeller, assesses a footprint of the actual track, before re-running its portfolios through the system.

US Coast Guard helicopters fly over the Gulf and assess the damage from above, giving the first real indications of potential losses, he added.

"There has been absolutely minimal damage to our offshore installations, so we are relieved to see that," said Mr. Jenks.

"We are expecting nothing in terms of estimated losses." Lessons have been learnt since Hurricanes Katrina and Rita in 2005 which tore through a big part of the US offshore energy industry, said Mr. Jenks. Exploration and drilling companies have improved the construction of installations, using stronger steel and more ties to secure them.

Waves reached 27 feet during Gustav, compared to 55 feet at their peak under Katrina, a factor which led to less damage to the rigs.

During Katrina and Rita alone the waves destroyed 115 platforms and damaged another 52. Aon later estimated insured losses of $10 billion to the offshore energy industry, while the total cost of repairs and replacement has been even higher.

"The power and intensity of the water movement is what really does the damage to these installations," said Mr. Jenks.

"But also the construction of them has improved significantly since Katrina."