Showing posts with label Gulf Mexico. Show all posts
Showing posts with label Gulf Mexico. Show all posts

Sunday, December 26, 2010

Seminar highlights safety in oil & gas industry

Enhancing safety during offshore oil and gas exploration and production
was the main topic of a seminar, hosted by the Vietnam National Oil and
Gas Group (PetroVietnam) in Ho Chi Minh City on Sept. 30.


PetroVietnam’s Deputy General Director Do Van Hau recalled the
Deepwater Horizon explosion which occurred in the Gulf of Mexico on
April 20, 2010, killing 11 people and triggering the largest-ever oil
spill in the history of oil and gas exploration.


The
incident set off alarm bells throughout the industry and reminded
management agencies and the oil and gas industry to re-examine safety in
the sector, he said.


Hau said that over the past 30
years, PetroVietnam and international contractors have spared no effort
in ensuring the safety of their staff and the environment, stressing
that there have been no serious accidents so far.


However, following the Deepwater Horizon incident, safety in offshore
oil and gas production has become a special concern for the State and a
priority task for the Vietnamese oil and gas industry.


The delegates, including managers and representatives from oil and gas
joint ventures and services companies from Vietnam and overseas,
reviewed and recommended various measures to ensure safety in the
industry.


They also discussed the lessons learnt
from the oil spill in the Gulf of Mexico as well as its impacts on the
international insurance market and the risk management measures and
insurance policies used by oil and gas companies./.

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Saturday, November 20, 2010

BP's broken well in Gulf of Mexico is 'dead'

WASHINGTON – US officials have finally declared BP's broken well in the Gulf of Mexico "dead", five months after a deadly oil rig explosion set off one of the costliest and largest environmental disasters ever.

Although the troublesome well may have been killed once and for all, BP still faces a long uphill battle to clean up the Gulf, a litany of lawsuits, billions of dollars in fines and shareholders angered by the firm's instability after its share price more than halved.

Retired admiral Thad Allen, the US pointman for the government's response to the disaster, said the operation to intersect and cement the deepwater well had been successfully completed.

"With this development, which has been confirmed by the Department of the Interior's Bureau of Ocean Energy Management, we can finally announce that the Macondo 252 well is effectively dead," Allen said.

"Additional regulatory steps will be undertaken but we can now state, definitively, that the Macondo well poses no continuing threat to the Gulf of Mexico."

The announcement marked an anti-climactic end to a five-month battle to cap a busted undersea well that gushed nearly five million barrels (210 million gallons) of oil into the Gulf, the largest maritime spill in history.

No oil has leaked into the Gulf in the three months since the well off the Louisiana coast was plugged in a so-called "top kill" operation, but the US administration insisted that it also be sealed from the bottom with a relief well.

A final pressure test of the cement seal was completed at 5:54 am (1054 GMT), officials said.

"Today, we achieved an important milestone in our response to the BP oil spill -- the final termination of the damaged well that sat deep under the Gulf of Mexico," President Barack Obama said in a statement.

Obama said there was now a diminished need for the massive response to the spill, but "we also remain committed to doing everything possible to make sure the Gulf Coast recovers fully from this disaster."

He vowed to "see our communities, our businesses and our fragile ecosystems through this difficult time."

BP pledged to continue "remedying the harm that the spill caused to the Gulf of Mexico, the Gulf Coast environment and to the livelihoods of the people across the region."

The disaster was triggered by an explosion on the Deepwater Horizon rig -- leased by BP and operated by Transocean Energy -- that killed 11 workers on April 20.

The accident broke pipelines between the rig and the ocean floor, spewing massive amounts of oil into Gulf waters, exposing the oil- and wildlife-rich region's vulnerability to deep sea drilling.

For weeks, every effort to plug the well 5,000 feet (1,500 meters) below the surface of the sea fell short as the spreading oil fouled hundreds of miles of shoreline, closed fishing grounds and threatened fragile ecosystems.

The Obama administration also imposed a moratorium on deepwater drilling, setting back another mainstay of the Gulf economy while the cause of the disaster was under investigation.

Eighty-seven days into the crisis, BP finally succeeded in placing a giant cap over the well that stopped the flow of oil.

But the costs were huge, with local livelihoods disrupted and nearly 70 billion dollars wiped off BP's market value.

BP, whose chief executive Tony Hayward was forced to resign, has spent eight billion dollars trying to contain the disaster and has forecast it will eventually cost the energy giant more than 32.2 billion dollars.

"Although the well is now dead, we remain committed to continue aggressive efforts to clean up any additional oil we may see going forward," Allen said.

Multiple investigations into the disaster are still under way and official responsibility has yet to determined. An internal BP investigation laid some of the blame on its contractors.

BP America's CEO Lamar McKay sought to put a positive spin on the lessons his company has learned from the disaster, saying they would be shared to prevent a repeat in the future.

 

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Wednesday, October 6, 2010

BP says oil spill costs hit $8 bln

BP

LONDON – British oil giant BP said Friday that the devastating Gulf of Mexico oil spill disaster has cost about US$8 billion so far.

"The cost of the response to date amounts to approximately eight billion, including the cost of the spill response, containment, relief well drilling, static kill and cementing, grants to the Gulf states, claims paid and federal costs," BP said in a statement.

The April 20 spill was triggered when an explosion ripped through the Deepwater Horizon rig in the Gulf of Mexico, killing 11 workers and sinking the huge offshore platform two days later. The flow of oil into the sea was not fully stemmed until July 15.

BP has forecast that the worst environmental catastrophe in US history will cost the group a total of about 32.2 billion dollars, after pushing the group into a record 16.9-billion-dollar loss in the second quarter.

The company repeated on Friday that it had agreed in June to set up a 20-billion-dollar compensation fund for residents affected by the spill.

BP added that operations were underway to replace the Deepwater Horizon's damaged blowout preventer (BOP) -- a large piece of equipment that failed to stop the disaster.

On Thursday, the group had removed the massive cap which had stemmed the flow of oil from its ruptured well deep in the Gulf of Mexico in a key step toward killing the well once and for all, officials said.

The damaged BOP will be raised to the surface to be examined and held as evidence in an official investigation, following the removal of the cap.

The ruptured Macondo well was plugged with heavy drilling fluid and then sealed it with cement last month, but the so-called "bottom kill" operation to permanently seal the well was delayed until the blowout preventer is replaced.

The "bottom kill" involves intercepting the crippled well with a relief well, which then pumps heavy drilling oil and cement into the oil well to permanently plug it.

BP said Friday that the replacement of the blowout preventer will "allow operations to complete the relief well to resume".

The company hopes that the relief well will reach the damaged well by around mid-September, depending on weather conditions.

In early morning trade on Friday, the company's shares rose 0.51 percent to 394.60 pence.

However, BP's share price has collapsed as a result of the disaster, shedding about 40 percent in value since the explosion on April 20.

The catastrophe also sparked the resignation of BP chief executive Tony Hayward in July

Hayward was forced out following a string of gaffes as the public face of the firm in its battle to stop oil leaking into the Gulf of Mexico.

 

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