Oil Giants Go After Moratorium With Oil Spill Response System
A federal drilling moratorium was proposed because of the oil spill within the Gulf of Mexico 2010. Many within the oil industry are protesting loudly. But the drilling moratorium could eventually be cancelled as a result of cooperative effort of four oil companies. Exxon Mobil, Chevron, ConocoPhillips and Royal Dutch Shell are committing $1 billion to set up a rapid oil spill response system in the Gulf of Mexico. Meanwhile, BP could try an operation by this weekend called a “static kill” to permanently seal the BP oil leak. But approaching tropical storms are threatening to delay the procedure.
Oil spill response not keeping pace with drilling technology
The oil spill in the Gulf of Mexico 2010 and also the drilling moratorium have been a wakeup call for the oil industry. oil spill response and cleanup technology hasn’t advanced in decades, while billions have been spent on drilling for oil in deeper waters. The New York Times reports the first $1 billion can be spent developing the equipment for underwater systems to contain deep water well accidents. Participating oil companies expect the system could be able to operate as deep as 10,000 feet and capture 100,000 barrels of oil a day.
Drilling moratorium’s end main objective of new system
The oil company consortium hopes the government will be persuaded to lift the six-month ban on deep water drilling soon following the oil spill response initiative. The Wall Street Journal reports the system resembles the one developed by BP during 3 months of trial and error after the Deepwater Horizon exploded April 20 . The system, a non-profit venture called the Marine Well Containment Business, is expected to be ready within 18 months.
Tropical storm adds urgency to latest containment attempt
A procedure called a “static kill” could permanently seal the BP oil leak this weekend. CNN reports that the static kill consists of forcing oil back into the reservoir by pumping mud into the well. Because pressure within the well is lower than expected, BP officials say the static kill could work where similar approaches have failed. BP officials are nevertheless working on the permanent fix: a relief well that is scheduled to be in place by the end of July. The timing of the static kill is crucial because operations might be disrupted for up to two weeks by a tropical storm headed for the gulf.
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