Seadrill Rig: Gulf Of Mexico Cleanup
Seadrill, a Bermuda domiciled company, confirmed today [June 3] that it would be giving support services in the Gulf of Mexico oil spill matter. The company’s ultra-deepwater semi-submersible West Sirius rig has been contracted by BP in its efforts to plug a blown-out well beneath the Gulf of Mexico. Reports say the rig will be earning $473,000 per day.
Upstreamonline.com reports that that the semisub was originally due to begin with ExxonMobil in the US Gulf, and that the sublet arrangement was said to have been prematurely cancelled due to the current US ban on offshore drilling in the Gulf of Mexico.
The Gulf of Mexico oil spill is a massive ongoing oil spill in the Gulf of Mexico, now considered the largest offshore spill in U.S. history. The spill stems from a sea floor oil gusher that started with an oil well blowout on April 20, 2010, which killed 11 platform workers.
The US Department of Homeland Security has designated the spill as one of “national significance”, and extensive efforts are being made to avert a severe environmental disaster.
Post explosion: fire fighting and crew recovery efforts
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On June 1, BP reported that its own expenditures on the oil spill had reached $990 million. On April 30 Merrill Lynch found that five companies connected to the disaster, BP, Transocean, Anadarko Petroleum, Halliburton and Cameron International, had lost a total of $21 billion in market capitalization since the explosion. In the six weeks since the oil spill began, BP’s stock has lost more than one-third of its value, equivalent to $62.7 billion in market capitalization.
Bermuda based reinsurers have been affected by the Gulf of Mexico explosion and oil spill, with Lancashire, AXIS, PartnerRe, Validus, Montpelier Re and Catlin all said to have exposure from the event
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Category: Accidents and fires, All, Business, News
