Monday, October 11, 2010

BP (NYSE:BP) Blowout Preventer Investigation Contracted to "Det Norske Veritas"

There is finally some movement on the investigation of the failed blowout preventer on the Deepwater Horizon oil rig operated by BP (NYSE:BP), and of which the blowout preventer was supplied by Cameron International (NYSE:CAM).

Norwegian foundation "Det Norske Veritas" was awarded the contract by the Joint Investigation Team which includes people from the Department of the Interior and Homeland Security.

The device has been sitting around for a month in storage by NASA in Michoud, Louisiana, as the federal government dragged its feet over the matter.

Even though it has taken a month to get it going, DNV will work on developing forensic testing protocols, consulting a number of government, commercial and academic organizations. Not having protocols was the reason given by the government as to why they hadn't gone forward yet. It took them a month to figure out who to choose to begin the process.

When protocols are in place, before testing begins on each one the the Joint Investigation Team will be have to give its approval.

“Chain of custody and evidence preservation protocols to ensure the proper handling of all evidentiary material have been in effect since the BOP was first retrieved in August,” said DNV.

The blowout preventer is the major piece of evidence in the oil spill accident, and determining what happened to it will decide a lot of how the liability will be passed around.

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