BP PLC (NYSE:BP) said they expect to start deepwater offshore drilling off the coast of Libya starting in November. That's about a month later than original estimates of an October launch.
According to chairman of Libya's National Oil Corp., Shokri Ghanem, the reason for the delay was extra precautions taken by BP after the Gulf of Mexico oil spill disaster.
BP will reportedly drill a minimum of five wells in the Gulf of Sirte, going deeper than the Macondo oil well in the Gulf of Mexico.
If another oil spill happened, the resources are available to deal with it if it's mid-size in Libya. Assuming a large oil spill, BP has contracted with the UK's oil response center, which is the largest in the world.
While already a major oil producer, Libya has little deepwater production going, the reason they're expanding into deeper waters. Most Libyan oil production is on land or shallow water.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment