BP (NYSE:BP) Drilling in Gulf for At Least 20 Years Says Dudley

Any idea BP (NYSE:BP) would willingly leave the Gulf of Mexico as a key production asset has been rejected by CEO Bob Dudley, who has recently stated more than once they're in it for the long haul.

In London, Dudley said this about the commitment of the company to the Gulf: “We certainly have a great set of production assets and we have opened up the lower tertiary play in the Gulf of Mexico, which is a two-decade play. That’s an important piece of exploration for BP we’re very good at. You’ll see us continue to participate in that.”

Dudley has been leading the company out of their defensive posture since the Gulf oil spill, and now that they've ended the oil from leaking into the Gulf, and cleanup is well under way, Dudley has the company focused on resuming production and profit, while reiterating the need to keep safety as their number one priority while drilling in deep water areas of the world.

Contrary to the media reports and assumptions, deepwater drilling hasn't slowed down at all, and is considered the focus for the long term in the industry as it relates to oil.

BP will continue to play a big part in that, although they have to take their safety practices to another level if they want to thrive, or even survive, as one more accident, depending on where they are in the world, would probably end their existence as a company.

BP (NYSE:BP) More Committed Than Ever to U.S.

Whether you love em' or hate em' BP (NYSE:BP) isn't going anywhere, according to CEO Bob Dudley, speaking of his commitment to continue drilling in the deep waters off of the U.S. coast.

Talking to a gathering in Britain, Dudley said the company was "part of the American community," and contrary to pulling out, would be getting even more involved in the production of energy in the region.

Dudley also reminded the audience that BP was a major employer in America, providing 23,000 jobs for the country, and is the biggest oil and gas producer in the States.

"I did not become chief executive of BP in order to walk away from the US. BP will not be quitting America," said Dudley.

Correctly citing the important of offshore deep water areas as crucial to providing energy, Dudley concluded, "The deep waters are becoming an increasingly important source of energy to fuel the global economy."

With the oil industry and governments of Gulf states putting pressure on the Obama administration to resume drilling in the Gulf after the oil moratorium was lifted, BP could be back drilling and extracting oil and gas from the region in the early part of 2011.