BP Spill May Be 'Opportunity in Disguise' for Oil-Rig Makers

BP Spill May Be 'Opportunity in Disguise' for Oil-Rig Makers

www.bloomberg.com

June 14 (Bloomberg) -- Heightened U.S. scrutiny of offshore drilling after the BP Plc spill, the worst in the nation’s history, may spur oil companies to replace aging rigs with new platforms made in South Korea and Singapore.

Rig-makers Samsung Heavy Industries Co. and Keppel Corp. stand to benefit from drillers buying $300 million-plus semi- submersible rigs, which operate in waters as deep as 10,000 feet.

(visit the link for the full news article)

I would hope that it would be the "deathblow" instead. But this quote from the article probably sums it up best.

“Oil companies still need to find and develop fields because reserves at existing ones are depleting,” said Lee Jae Won, an analyst at Tong Yang Securities Inc. in Seoul. “There’s no way the spill will halt offshore projects.”

With the costs and dangers of continued offshore drilling it would seem the money would be better spent trying to develop cleaner alternative energy sources. Not to mention the human and environmental benefits.

www.bloomberg.com
(visit the link for the full news article)

Semi-submersible?

Deepwater Horizon seemed to be of the 'fully-submersible' type

Thanks for posting this. I do have a problem with the word "spill", though. With a spill, it's already happened. Like if you dump over a cup of water, it comes out but it eventually stops. With a leak, which is what is happening, it keeps coming out and the damage is ongoing.

reply to post by Chakotay


roll around the floor laughing. The D.W.H was on the surface and sank to the bottom. these new machines will be on the bottom and get blown to the surface. it does not matter what they do they will still have dipsh*ts running the things.