Tuesday, September 7, 2010

BP (NYSE:BP) Ready to Resume Relief Well Drilling

Drilling on the relief well which will be used to perform the final step to permanently plug the Macondo oil well in the Gulf of Mexico, is ready to be resumed by BP (NYSE:BP).

After the final step of removing the failed blowout preventer and replacing it with a new one, the way is cleared for the drilling to begin to reach the annulus of the well where cement and mud will be injected into the well to perform the "bottom kill," which will be the final step in the overall ordeal, which began April 20 when the Deepwater Horizon oil rig exploded and spewed oil into the Gulf.

Anadarko Petroleum (NYSE:APC) and Mitsui were also partners in the project, with Anadarko owning a 25 percent stake and Mitsui (Nasdaq:MITSY) a 10 percent stake through their majority-owned MOEX company.

Government lead man in the Gulf cleanup, Thad Allen, says the damaged well is now "secured," preparing the way for the resumption of drilling of the relief well, which is a short distance from its destination.


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