A drilling moratorium seemed inevitable after the oil spill in the Gulf of Mexico 2010. Many in the oil industry are protesting loudly. But the drilling moratorium could eventually be canceled due to the cooperative effort of four oil companies. A $1 billion fund has been set up by Exxon Mobil, Chevron, ConocoPhillips and Royal Dutch Shell to develop a rapid oil spill response system for the gulf. Elsewhere within the gulf, BP could try to permanently seal the ruptured well this weekend with a tactic called a “static kill”. But the procedure may be postponed by an approaching tropical storm.
Deep water oil spill response system
The drilling moratorium resulting from the oil spill within the Gulf of Mexico 2010 was a wakeup call for the oil industry. oil spill response and cleanup technology hasn’t advanced in decades, when 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. The four oil companies putting up the money said the oil spill response system will be effective down to 10,000 feet and contain 100,000 barrels of oil daily.
A step in the right direction to end drilling moratorium
The oil spill response initiative is the oil companies’ best hope to get the six month ban on deep water drilling lifted as soon as possible. The Wall Street Journal reports that BP provided the model for the new system by muddling through three months of trial and error during the disaster . The system, a non-profit venture called the Marine Well Containment Business, is expected to be ready within 18 months.
Weather emerges again as a factor in oil spill containment
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 to the well. Officials from BP have said the “static kill” option could succeed where similar attempts have failed because pressure in the well is lower than expected. BP officials are nevertheless working on the permanent fix: a relief well that is scheduled to be in place by the end of July. Time is of the essence, because a tropical storm heading to the gulf from the Caribbean could disrupt operations for 10 to 14 days.
Discover more about this topic here
nytimes.com
wsj.com
cnn.com
