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Gulf of Mexico Oil Spill - A Catalyst for Developing Stringent Offshore Safety Policies and a Game Changer for the Offshore Oil Industry and BP Plc

The GOM oil spill, as a result of the Deepwater Horizon rig explosion, has become one of the most disastrous in recent history. The spill has significantly impacted on the marine environment in coastal Southern US and has led to health concerns.. Oil spilled at an estimated 1,000 barrels per day (bbls/d) which reached to around 62,000 bbls/d when the well was finally capped on July 15, 2010.

 

The GOM oil spill was the result of a deepwater drilling rig explosion, which has raised concerns about the offshore drilling and field services safety policies and procedures in the US. The spill has been disastrous to the extent that the US government has imposed a moratorium on deepwater drilling untill November, 2010. The government has also announced some stringent safety policies and regulations to avoid any such incident in the future. Meanwhile, the moratorium will allow time to understand the causes and the impact of the oil spill on deepwater drilling.

 

 

The GOM is a significant offshore region with immense potential for deepwater crude oil production. It accounts for about 31% of the total US crude oil production. The deepwater GOM is gaining prominence due to significant discoveries such as the Tiber field, Buckskin or the Big Foot. It was expected that these deepwater projects would be key for US domestic oil production in the future. However, the GOM oil spill and the resulting moratorium and stringent safety policies and regulations have resulted in delays in such multiple deepwater projects. There are worries about deepwater drilling after the oil spill disaster.

 

Global Data's new report, "Gulf of Mexico Oil Spill - A Catalyst for Developing Stringent Offshore Safety Policies and a Game Changer for the Offshore Oil Industry and BP Plc" analyses the implications and consequences of the Gulf of Mexico oil spill which took place in April, 2010. The report discusses the oil spill incident, the costs and liabilities in terms of claims and the impact on the environment. It elaborates on the response action undertaken by BP Plc (BP) to prevent and contain the oil spill. The report discusses the impact of the oil spill on the US offshore industry due to the resulting moratorium and the stringent safety laws and regulations. The report delves deep into the challenges that will emerge in the Gulf of Mexico deepwater region after the oil spill incident. It discusses the strategies adopted by BP to emerge from the crisis. The asset sale plan of BP has been dealt with in detail in the report. The report also elaborates on how the oil spill incident can result in increased M&As and consolidations in the US offshore oil and gas industry as well as the need for the US to look out for alternative sources of crude oil. The Canadian oil sands might emerge as a major source of crude oil for the US.

 

For further details, please click or add the below link to your browser:

http://www.globaldata.com/reportstore/Report.aspx?ID=Gulf-of-Mexico-Oil-Spill--A-Catalyst-for-Developing-Stringent-Offshore-Safety-Policies-and-a-Game-Changer-for-the-Offshore-Oil-Industry-and-BP-Plc&ReportType=Industry_Report&coreindustry=Industry_Report&Title=Oil_~_Gas

 

Visit our report store: http://www.globaldata.com

 

For more details contact:

pressreleases@globaldata.com

North America:             +1 646 395 5477

Europe:                        +44 207 753 4299

+44 1204 543 533

Asia Pacific:                  +91 40 6616 6782

About the Author

GlobalData is a UK-based company with presence across North America, Europe and Asia Pacific and has a broad product offering that ranges from interactive databases, reports and custom solutions. It is a comprehensive source of insights and analysis with coverage including oil & gas, power, alternative energy, nuclear power, petrochemicals, medical equipment and healthcare industries.

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