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Deepwater Drilling


The Macondo oil spill in the Gulf of Mexico clearly demonstrated the potential dangers of deepwater drilling.


“As of last fall, a consortium of major oil companies teamed up to find a way to contain and manage an oil spill in the Gulf because deepwater permits just won’t happen until that new scheme has been developed.”


Robert Huffert, Munich Re America


While deepwater drilling is not new, the complexity of this type of drilling is stressing the tools that are being used. Oil companies are drilling deeper and operating wells under higher pressures and temperatures. Major oil companies worked together to develop a new plan involving new containment technology for managing an oil spill in the Gulf. Without such plans in place, companies would be unlikely to receive deepwater drilling permits.


Copyright © 2011 by A.M. Best Company, Inc. All rights reserved. No part of this report may be reproduced, stored in a retrieval system or transmitted in any form or by any means; electronic, mechanical, photocopying, recording or otherwise.


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