Drilling near Shetland Islands in British waters could result in a bigger catastrophe than the BP (NYSE:BP) oil spill if an accident were to happen, according to Chevron (NYSE:CVX), who has a license to drill in the region.
According to a worst-case scenario, about 77,000 barrels a day could be released from the well if it ruptured. That's close to 25 percent more than that which escaped from the Macondo Well in the Gulf of Mexico.
Originally Chevron stated the worst that would happen would 35,000 barrels a day escaping into the North Sea.
Managing director of Chevron UK, Richard Cohagan, said the reason for the increased estimate is the high-pressure connected with the area.
"Deepwater Horizon has given us a new perspective on how bad things could be. When we looked at the core pressures and what seismic has shown us might be the producing interval, we calculated what the largest spill rate could be, said Cohagan.
"We actually came up with a very large spill rate in that condition of 77,000 barrels - actually more than BP's Macondo."
Oil companies have all been going over their operations after the Gulf oil spill.
Showing posts with label Shetland Islands. Show all posts
Showing posts with label Shetland Islands. Show all posts
Wednesday, October 27, 2010
Monday, August 2, 2010
Radical Environmentalists Oppose BP (NYSE:BP) Drilling in Libya
Feeble attempts by radical environmentalists, and politicians they own, have focused on attempting to halt drilling for oil in Libya, as well as off the coast of the Shetland isles in Britain.
Attempts to pressure lawmakers to impose a moratorium on both areas as the misguided Obama administration has in the U.S. is unlikely to produce any results, as the fallout in every area, including jobs and energy makes it ridiculous in the first place, and dangerous as well. That doesn't take into account the tax revenue either, which shrinks the political will to do something in this regard.
As far as nationally, this is mostly instigated by Italy, which has absolutely no jurisdiction either of the oil wells, and neither does the European Union, concerning Libya.
The well in Libya will be about 820 feet deeper than the Macondo well, which is the one attempting to be plugged by BP in the Gulf of Mexico. It is will be about 5,740 feet deep.
The other well is near the Shetland islands, about 60 miles west of them, off the coast of Scotland. The well there would be up to 4,265 feet deep, and is at this time subject to the approval of the government.
The British government has said the won't give approval until assurances are offered that highest standards of safety and training are in place and have been implemented.
Attempts to pressure lawmakers to impose a moratorium on both areas as the misguided Obama administration has in the U.S. is unlikely to produce any results, as the fallout in every area, including jobs and energy makes it ridiculous in the first place, and dangerous as well. That doesn't take into account the tax revenue either, which shrinks the political will to do something in this regard.
As far as nationally, this is mostly instigated by Italy, which has absolutely no jurisdiction either of the oil wells, and neither does the European Union, concerning Libya.
The well in Libya will be about 820 feet deeper than the Macondo well, which is the one attempting to be plugged by BP in the Gulf of Mexico. It is will be about 5,740 feet deep.
The other well is near the Shetland islands, about 60 miles west of them, off the coast of Scotland. The well there would be up to 4,265 feet deep, and is at this time subject to the approval of the government.
The British government has said the won't give approval until assurances are offered that highest standards of safety and training are in place and have been implemented.
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