A couple weeks ago, I talked about our Operations Integrity Management System and how we use it to manage safety and risk at our operations worldwide. Today, The New York Times ran a story that’s an example of how we put that system to work in managing risks related to drilling.
The story features our experience in drilling a well called Blackbeard offshore Louisiana. Blackbeard was a very deep, high-temperature, high-pressure well, about 100 miles west of where the Deepwater Horizon rig was located.
After drilling more than 30,000 feet – and spending $187 million — our drillers decided to stop because they felt the well couldn’t be completed safely. At the time, we were criticized that we “didn’t have the guts” to finish the well.
You can read more in The Times’ story, New Culture of Caution at Exxon After Valdez.
I just read this article in the New York Times. It’s good to see that ExxonMobil has taken such steps to improve its safety practices. It’s significant to see you make the decision to walk away from this type of oil find all in the name of safety. This is good for the environment, but it’s also good for shareholders. I applaud your efforts, especially considering news reports I’ve read which lead me to believe this accident in the Gulf could have been prevented by BP had they followed the same standards. I sincerely hope other US energy companies won’t be punished for the mistakes of BP.
Here’s a link to the NYT piece: http://www.nytimes.com/2010/07/13/business/13bpside.html?_r=1