fossil fuel, oil drilling is used. Land-based oil drilling became less productive and as the global stipulation for energy increased, technology, law, and geology impacts stepped in and pushed the exploration of oil away from shores (CITE). With its historical background, offshore oil drilling is one of the most important aspects of today’s economy although we are faced with its risks and consequences, such as the BP Deepwater Horizon explosion of the Gulf of Mexico. Offshore oil drilling is known as
distances to reach markets throughout the world. With seemingly increasing frequency, these journeys sometimes end in accidents that result in oil being spilled into the ocean. The most devastating oil spill, The Deepwater Horizon oil spill, occurred on April twentieth of this year. Deepwater Horizon is an oilrig located in the Gulf of Mexico and it is owned by B.P. Everything seemed to be running efficiently on the rig until April twentieth, when methane gas leaked through the rig. The gas was under high
Deepwater Horizon Oil Spill The Context Before the occurrence of the Deepwater Horizon event, BP had already been labelled as having a horrible safety record. A 2009 report by the United States Department of Labour Occupational Safety and Health Administration (Todd & Petterson , 2009), indicated that BP had 270 existing fines of a ‘failure to abate’ and 439 ‘wilful violations’ of various safety protocols. At the time of the disaster the regulators of the oil industry in the United States was the
Oil contamination is devastating for an environment. The free release of oil into the water leads to a wide range of negative consequences, such as “the spread by wind and wave” (Bai & Bai, 2014, p. 363). The oil spillage from the Deepwater Horizon platform floating on the surface was spread by wind and sun, moving over the water’s surface. As a result, the oil spread affected the environment, including the wildlife. The BP oil spill has raised serious risk management issues regarding the governance
implementing the necessary controls in place to ensure compliance to them. The BP Deepwater Horizon Disaster On April 20, 2010, the British Petroleum (BP) leased Deepwater Horizon drilling rig took an unexpected kick of gas pressure from an oil well in the Gulf of Mexico. The release ignited, and through the failure of the blowout preventers progressed into a firestorm. The fire consumed the drilling rig platform, sinking it, causing 11 casualties, and the subsequent release of 4.9 million barrels
strata. [8] The Gulf of Mexico is one of the largest salt domes oil reservoir area in the world, where over 500 salt domes have been discovered so far both onshore and under the seafloor. In 1900, the first salt dome oil reservoir was discovered by drilling a exploratory well on Spindletop Hill near Beaumont, Texas [9], and one year later, the well was completely built and constructed. With the depth about 1000 feet below the ground, a pressurized oil reservoir produced over 100,000 barrels of crude
Deepwater Horizon was an offshore drilling rig built in 2001 in South Korea by Hyundai Heavy Industries. In September 2009, the rig drilled the deepest oil well in history with a vertical depth of 35,050 feet. An unplanned flow of well fluids into the wellbore can be dangerous as it could cause a blowout which would then cause a fire. In order to prevent this, driller’s pump a drilling mud into the well, creating a barrier between the undersea oil and gas and the rig. The safety of the drilling
Economic Concerns of Deepwater Completions and Workover. Benefits: Offshore completions and workover have some environmental benefits specially during the development phase. It offers less time over the hole, needs fewer resources, requires less capital equipment to develop a field. Subsea completions also is often associated with continuing availability during the production and disposal of equipment such as platforms, manifolds etc. Risks: Introduction: The environmental risks associated with offshore
Offshore drilling and production operations and spills from ships or tankers typically contribute less than 8 percent of the total that enter the ocean each year. The majority of the oil entering the ocean comes from routine maintenance of ships at 20 percent, hydrocarbon particles from onshore air pollution is about 13 percent, and natural seepage from the seafloor is a little over 8 percent. Of the approximately 706 million gallons of oil that enter the ocean each year, offshore drilling operations
Strategic Corporate Social Responsibilities and Law Contents BP Company Info 3 Deepwater Horizon Oil Spill Event 4 Summary of the Deepwater Horizon Event 5 Stock price before and after Deepwater Horizon 7 Impact on Stakeholders 8 BP’s Oil Spills and Corporate Social Responsibility 9 Inadequate disclosure on the oil spill event 11 Recommendations for BP to get reputation back 13 Conclusion 14 BP Company Info BP is a global oil and gas company headquartered in London, United