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Environmental disasters

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  • Deepwater Horizon one year on: what has the oil industry learned?

    A year ago today, the oil industry was shaken by a blowout on the Deepwater Horizon rig, 1500 metres deep in the Gulf of Mexico. The explosion killed 11 people and spilled 200 million gallons of oil. BP’s bill – over US$8 billion to date – is expected to reach US$32 billion after all damage claims have been made.BP wasn’t solely responsible for the spill. BP’s contractors were also held to task, including Transocean, the rig owner; Halliburton, who did the cement job; and Cameron International, who built the blowout preventer. The incident highlighted the complexity – and vulnerability – of today’s oil and gas contracting arrangements.IIED’s new report Shared value, shared responsibility: a new approach to managing oil and gas contracting chains argues that a shift in industry culture is required to manage the challenges posed by complex chains of oil and gas contractors in increasingly risk-laden environments.

    20 April 2011 | Blog | Energy
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