Monday, May 17, 2010

BP (NYSE:BP) Capturing Some of Oil Leak

BP (NYSE:BP) engineers say they're experiencing some success om the capturing of oil from the oil spill, as a pipe a mile long has been successfully inserted into a damaged pipe the oil is leaking out of and is diverting about 1,000 barrels and sending it to a ship on the surface.

Senior executive vice president of BP, Kent Wells, said in an interview, “So we do have oil and gas coming to the ship now, we do have a flare burning off the gas, and we have the oil that’s coming to the ship going to our surge tank ... and it is working as planned.

This is only a temporary measure, as the ultimate plan is to pump heavy drilling mud into the well which will permanently seal the oil leak.

How it works is the mud will be used to block the pressure that pushes the oil up, which will stop the oil from escaping from the ocean floor.

Once that is completed, there will be cement added, which would be the permanent seal.

Wells said it would take about a week to 10 days to begin trying those measures.

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