Government point man Thad Allen said BP (NYSE:BP) won't be able to resume the effort to remove the blowout preventer until at the earliest: Friday. It's more likely it'll be later than that.
Large waves continue to hamper the salvage efforts, and until that changes, there's nothing the oil company will be allowed or able to do.
Allen added it could even be next week before work can start up again.
The blowout preventer is the key piece of equipment which should be able to shed light on what caused the explosion which killed 11 workers on the Deepwater Horizon oil rig in April.
BP's challenge is to remove it in a way where no damage could compromise the preventer, so a conclusion can be drawn concerning liability.
Showing posts with label Deepwater Horizon Salvage. Show all posts
Showing posts with label Deepwater Horizon Salvage. Show all posts
Wednesday, September 1, 2010
Monday, August 30, 2010
BP (NYSE:BP) Puts Gulf Operations on Hold Because of Weather
BP (NYSE:BP) announced its attempt to replace the blowout preventer by removing the sealing cap has been put on hold, as concerns over bad weather has halted the process.
On the company's website they said the high seas is the major factor, and until those conditions subside, they won't proceed with the operations. They will wait till the Gulf waves reach "acceptable levels" before continuing.
A couple of things are important with removing the blowout preventer. The first is to do it in a way where no damage is done to it because it's the key piece of evidence in finding out what caused the accident on the Deepwater Horizon oil rig.
And second, to put a new blowout preventer on the rig in order to prevent the "bottom kill" - which will be the final step in permanently plugging the well - from wrecking the cement plug which was put in place in August.
On the company's website they said the high seas is the major factor, and until those conditions subside, they won't proceed with the operations. They will wait till the Gulf waves reach "acceptable levels" before continuing.
A couple of things are important with removing the blowout preventer. The first is to do it in a way where no damage is done to it because it's the key piece of evidence in finding out what caused the accident on the Deepwater Horizon oil rig.
And second, to put a new blowout preventer on the rig in order to prevent the "bottom kill" - which will be the final step in permanently plugging the well - from wrecking the cement plug which was put in place in August.
Tuesday, August 24, 2010
BP (NYSE:BP) Gave Okay to Deepwater Horizon Use with 390 Overdue
When BP did an internal audit of the Deepwater Horizon oil rig, it found about 390 overdue maintenance problems, yet still decided to go ahead and let it begin operations, leading to the explosion and ultimate consequences associated with it.
The 390 overdue maintenance problems were revealed by BP’s Gulf of Mexico marine authority, Neil Cramond, when talking to investigators from the Bureau of Ocean Energy Management and U.S. Coast Guard.
BP’s audit said: "With excessive overdue maintenance and the recent introduction of more maintenance routines, it would appear that the
maintenance department is struggling to stay in touch with the planned maintenance schedule."
Even so, the final decision on whether or not to put the rig into
operation was BP's, as Cramond admitted and confirmed when queried by a lawyer from Transocean (NYSE:RIG) at the hearing.
Much of this is being done to determine, what, if any, liability
Transocean and others may have in relationship to the damage done from the explosion of the oil rig, which killed 11 workers and gushed oil into the Gulf of Mexico.
One of the most important pieces of evidence, the blowout preventer, is still on the Gulf floor, and is being worked on now to detach from the pipe in order to bring it to the surface as it was when it went down with the Deepwater Horizon.
At that time a lot more clarity will be added to the situation to make decisions on overall liability and how far it will extend beyond BP.
The 390 overdue maintenance problems were revealed by BP’s Gulf of Mexico marine authority, Neil Cramond, when talking to investigators from the Bureau of Ocean Energy Management and U.S. Coast Guard.
BP’s audit said: "With excessive overdue maintenance and the recent introduction of more maintenance routines, it would appear that the
maintenance department is struggling to stay in touch with the planned maintenance schedule."
Even so, the final decision on whether or not to put the rig into
operation was BP's, as Cramond admitted and confirmed when queried by a lawyer from Transocean (NYSE:RIG) at the hearing.
Much of this is being done to determine, what, if any, liability
Transocean and others may have in relationship to the damage done from the explosion of the oil rig, which killed 11 workers and gushed oil into the Gulf of Mexico.
One of the most important pieces of evidence, the blowout preventer, is still on the Gulf floor, and is being worked on now to detach from the pipe in order to bring it to the surface as it was when it went down with the Deepwater Horizon.
At that time a lot more clarity will be added to the situation to make decisions on overall liability and how far it will extend beyond BP.
Wednesday, August 11, 2010
Transocean (NYSE:RIG), Cameron (NYSE:CAM), Anadarko (NYSE:APC), Halliburton (NYSE:HAL), BP (NYSE:BP) All of Stake in Salvaging Deepwater Horizon
Transocean (NYSE:RIG), Cameron (NYSE:CAM), Anadarko (NYSE:APC), Halliburton (NYSE:HAL) and BP (NYSE:BP) all have a serious stake in the outcome of the salvage operations soon to begin in the Gulf of Mexico of the destroyed Deepwater Horizon oil rig.
While some have expressed doubt concerning the need for the oil companies involved in the Deepwater Horizon accident in the Gulf of Mexico to be those that salvage the wreckage, the diverse and opposite interests of the companies all but assure it'll be one of the most honest operations there can be under the conditions.
Already a number of very public battles of words has ensued between the companies, underscoring the billions at stake, which in some cases with the smaller oil companies above, could drag them into bankruptcy.
Consequently, nobody is going to allow the other to do something which could hurt them in the salvage operation, and so every jot and tittle of the process will be recorded and responded to.
There will also be the presence of the Coast Guard who will help to keep things on the up and up as well.
Some of the things of interest will be first and foremost, the blowout preventer and if it failed. That would link directly to Cameron International, which made the system, and could and will be held liable if that is the ultimate cause of the accident.
Transocean's liability is the rig itself, which it owned and leased to BP, and Halliburton's will be the cementing of the well, which their crew did the work on. Anadarko was a 25 percent partner in the project, and Mitsui was a 10 percent owner.
So salvaging the wrecked Deepwater Horizon will be one of the most important part of the liability issue, as it'll determine the extent of BP's liability in the accident, along with that of the remaining companies too.
While some have expressed doubt concerning the need for the oil companies involved in the Deepwater Horizon accident in the Gulf of Mexico to be those that salvage the wreckage, the diverse and opposite interests of the companies all but assure it'll be one of the most honest operations there can be under the conditions.
Already a number of very public battles of words has ensued between the companies, underscoring the billions at stake, which in some cases with the smaller oil companies above, could drag them into bankruptcy.
Consequently, nobody is going to allow the other to do something which could hurt them in the salvage operation, and so every jot and tittle of the process will be recorded and responded to.
There will also be the presence of the Coast Guard who will help to keep things on the up and up as well.
Some of the things of interest will be first and foremost, the blowout preventer and if it failed. That would link directly to Cameron International, which made the system, and could and will be held liable if that is the ultimate cause of the accident.
Transocean's liability is the rig itself, which it owned and leased to BP, and Halliburton's will be the cementing of the well, which their crew did the work on. Anadarko was a 25 percent partner in the project, and Mitsui was a 10 percent owner.
So salvaging the wrecked Deepwater Horizon will be one of the most important part of the liability issue, as it'll determine the extent of BP's liability in the accident, along with that of the remaining companies too.
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