HOUSTON, March 17 (UPI) -- A vigilant risk management system is needed as energy companies move back to the Gulf of Mexico after last year's oil spill, an executive said.
Apache Deepwater LLC, a division of Apache Corp., announced that it joined the non-profit Marine Well Containment Co.
The MWCC was set up in the wake of the oil spill last year in the Gulf of Mexico to respond to future disasters like the incident at BP's Deepwater Horizon oil platform.
BP's Macondo on the floor of the Gulf of Mexico failed in April, causing a deadly explosion that led to one of the worst accidental offshore oil spills in the history of the industry.
Apache Corp. Chief Executive Officer G. Steven Farris said in a statement that his company recognized the need for a vigilant risk management system for operations in the gulf.
"As we resume drilling operations in the deep-water Gulf of Mexico, we recognize we must be vigilant in managing risks properly," he said. "We also recognize that it is essential to have the capability to respond rapidly to a subsea well control incident even as we expect the equipment will never be used."
Apache in January said the initial flow of natural gas from Balboa reached 30 million cubic feet and oil rates were quoted at 1,400 barrels per day. Work at the deep-water site started in late December. The field is about 130 miles south of Galveston, Texas, in 3,350 feet of water.
|Additional Energy Resources Stories|
LONDON, June 19 (UPI) --An oil company working in northern Iraq said Wednesday it was looking to confirm the region may be one of the best in the world in terms of resource potential.
PARIS, June 19 (UPI) --Aerospace industry contracts for commercial aircraft, related systems and services worth billions of dollars are being reported from the Paris Air Show.