The Impact Of Safety On The Oil Industry

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EXECUTIVE SUMMARY The concept of safety in the oil industry is of much importance during offshore drilling procedures and cannot be exempted or compromised in any way that seems to deviate from offshore safety culture in the Outer continental shelf. Offshore Safety regulations encompass all forms of procedures that have been designed to promote safety culture in the industry as well as the preservation of lives and property. Industry as well as Government regulations have been in place for some time to help provide operators with guidelines to during their various drilling operations in the Outer Continental Shelf (OCS).. Since huge amount of capital is pumped into oil production on a daily basis and to ensure maximum returns, better…show more content…
This then becomes a lesson learned and recommendations are put in place with the aim of avoiding a similar future disaster. These Fundamental changes are crucial to a successful operations with accidents reduced to the barest minimum. On April 20, 2010 BP’s Macondo well that was being drilled in the Gulf of Mexico experienced a blowout and lasted for about 87 days and became a memorable event in the history of the Oil industry and mankind as a whole. The 87-day nightmare did massive damage to lives and properties, the water body in which the well was drilled and the marine life that resides in it. This resulted in federal lawsuits and fines ranging into billions of dollars. Per the Buffalo report delivered by the Department of interior on May 27, 2010, a failed cement job coupled with inexperienced personnel were the central cause of this horrible Oil industry disaster. The regulations that existed before this incident as well as how these regulations have been impacted by the blowout will be the main focus of this report. Also to be discussed at length will be any challenges that have been faced by Safety regulators faced during the implementation of these regulations. INTRODUCTION There exists a popular saying “if you think safety is expensive try an accident”. This saying goes to explain the damages that a company suffers ranging from the loss lives of its personnel and properties and the need for its workers to adopt and adhere to safe work practices should
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