Oil And The Deep Water Horizon Drilling Platform

5125 Words21 Pages
Part I: Introduction
A. Objective The objective of this paper is to showcase and explain the costs and losses of the explosion and sinking of the Deep Water Horizon Drilling Platform owned by Transocean and leased by BP Oil and the sea-floor oil gusher that flowed through 87 days in the Gulf of Mexico. We will showcase the costs and loses from the beginning of the disaster, which was in April 20th to until the oil flusher was capped on, which was in July 15th. Moreover, we will show the consequences and legal actions that were taken after the disaster occurred to minimize damages and loses caused by the disaster.
B. Organization To reach our objective we researched thoroughly through archives of files and articles in search of information about the economic effects of the explosion and sinking of the deep Water Horizon Drilling Platform. We also searched for the consequences that both BP and Transocean had to go through as the two main parties involved in this tragedy and the actions taken from them as well as other organizations to minimize or eliminate costs and losses. The paper is organized by first defining relevant terms to this case, followed up by a summary of the tragedy and its conclusion. Our paper then moves to the overall quantitative and qualitative losses that both companies and other affect parties experienced. Lastly, we will describe the legal or regulatory actions as well as other actions made by Transocean and BP and other organizations due to the
Get Access