BP: Deepwater Investments in GOM Make Sense

2 May 2017   Offshore

BP’s regional president for the Gulf of Mexico shares how his company was able to overcome the challenges of operating in deepwater. This year’s Offshore Technology Conference kicked off with a breakfast keynote from Richard Morrison, BP plc’s regional president for the Gulf of Mexico. He outlined how BP was able to adapt in order to continue to operate efficiently in deepwater Gulf of Mexico. Despite the low oil price environment during the oil and gas industry downturn, operational safety didn’t suffer, said Morrison, adding that there hadn’t been an increase in accidents in the Gulf of Mexico or elsewhere within the company. “The economics for deepwater investments make as much sense today as they did in 2001,” Morrison said. BP implemented measures to manage costs, which included cutting its Gulf of Mexico workforce by half since 2014. Its production in the Gulf of Mexico increased 15 percent, while […]

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