Can BP (NYSE:BP), Anadarko (NYSE:APA), Mitsui (Nasdaq:MITSY) Partnership Survive?

In the midst of the storm surrounding BP (NYSE:BP), one thing largely lost, but not completely forgotten, is the ongoing partnership in the Macondo oil well between BP (NYSE:BP), Anadarko (NYSE:APA) and Mitsui (Nasdaq:MITSY).

Clouding the relationship, although not legal standing, is the attempt be BP to pass on expenses for the Gulf accidents to its partners, who in the case of Anadarko owns 25 percent in the oil well, while Mitsui owns 10 percent via its MOEX Offshore 2007 LLC unit. BP owns the remaining 65 percent.

The bill sent to Anadarko is over $1 billion, while MOEX has been sent $480 million.

Anadarko, who could be hurt deeply if they end up having to pay a lot, are counting on BP being designated as being grossly negligent in their actions, as that could eliminate Anadarko from being liable for the damage from the spill. A similar case could be made for MOEX.

With close to $4 billion in oil still in the well, it remains to be seen if that will tapped again by BP, which would give their partners some incentive to continue working together.

Still, depending on the outcome, that isn't that much when in the case of Anadarko it would only make them break even, and even if the decision to drill again is made in the future, it would probably be several years before it were to happen, hitting the partnership hard for the two smaller energy companies.

There is also the very public castigation of BP by Anadarko, which could have brought things beyond business to being personal. If that is part of the current underneath the story, we could see things more hostile and unable to be fixed, rather than a continuation of the partnership.