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Industry can cut accident risks, says BP chief

Finncial Times: Industry can cut accident risks, says BP chief

By Ed Crooks in London and Edward Luce in Washington

Published: June 2 2010 23:26 | Last updated: June 2 2010 23:26

Extracts

Tony Hayward is fighting for BP’s right to stay in one of its most important regions for growth.

It was possible, he added, that in future BP could operate its own rigs working in deep water.

One of BP’s rivals has already moved in this direction. Royal Dutch Shell, Europe’s largest oil and gas group, has created a joint venture with Frontier Drilling of Norway. The new drill-ship concept, known as the “bully” rig, is used by Shell on some deep-water and Arctic developments.

Shell executives believe that by building – through the joint venture – some of its own rigs it can reduce its dependence on subcontractors and retain technological control.

Additional reporting by Javier Blas

Copyright The Financial Times Limited 2010

FULL FT ARTICLE

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