Oil Exploration - It's listing 20-30 degrees with the topsides almost in the water.

July 14, 2005 2:15 PM

Oil Exploration For over 75 years the oil industry has been searching... from the icepack of fitzwilliam strait to the Tarmin Basin in China, fighting storms in the North Sea, ice, mud & forest. Using powerful computers to find new reserves ready for that billion dollar oil rig to start drilling and pumping.
posted by Lanark (9 comments total)

And it might never begin.
posted by brheavy at 2:41 PM on July 14, 2005

That would be one hell of an insurance claim.
posted by brheavy at 2:42 PM on July 14, 2005

BP now have a website for the recovery operation - rumour is they dont have insurance that would cover this.
posted by Lanark at 3:08 PM on July 14, 2005

With Hurricane Emily possibly heading into the gulf by the weekend, there must be some stressed out oilmen right now.
posted by brheavy at 3:14 PM on July 14, 2005

Analysts said although the extent of the damage was unknown, it could delay the start of production or be worse for the facility.

The platform is self-insured. BP's shares in London closed down 2.3 percent on Tuesday.
posted by Lanark at 3:22 PM on July 14, 2005

i thought this was a pretty neat article on oil exploration in the atlantic awhile back :D

cheers!
posted by kliuless at 4:00 PM on July 14, 2005

I wonder how much oil there might be in the Spratlys and Paracels for China to develop.
posted by alumshubby at 4:37 PM on July 14, 2005

if they're china's to develop :D

they're also clashing w/ japan!
posted by kliuless at 5:00 PM on July 14, 2005

I see from the OSC reports that MSRC is on site, but that there's been no release so far. The BP board must be counting their lucky stars for that. At least they don't have a blowout (or twelve) to contend with.
posted by bonehead at 8:21 PM on July 14, 2005