[QUOTE=alcor;36262]More dramatic prose at a time when we need objectivity. I’m trying to see what and who failed. I’m interested in getting people back to work, but we must learn lessons from this disaster. To suggest that only BP operates with shortcuts is profoundly short of the truth.
And, BP has about 40,000 employees in the US. 45% of BP is made up of its US prescence. Are you suggesting that we make all of these employees redundant?
Do you deny that TO could have stopped this blowout if they had been observant enough?
What responsibilities do the drilling contractors have when it comes to well control?
Is volume control an issue? Apparently not, because BP suggested that operations had the all clear to go ahead, despite arguments on the rig between BP and TO regarding displacement.
If TO were worried about displacement why didn’t they take action to ensure the well was displaced with volume and pressure control.
Perhaps, you feel that this was BP’s responsibility as well. Do you?
Assuming you agree that TO were at fault for not observing pressure and volume trends, how much of the blame would you apportion to TO overall?
How much oil spill would there be if TO had closed the rams with SW at the BOP after partial displacement?
And the ignition source, is that down to BP?
The contractor has many obligations when drilling a well. I work for one and I know my responsibilities. I stand up when the fault is mine, even though it might be easier to blame others.
There’s no doubt about the fact that BP will answer for their own deficiencies (the list is endless). But, we’ll find out in time where BP’s specific failures are. The facts will come out. All we can do is speculate with the little facts known.[/QUOTE]
Some facts are already here:
20.04.2010 09:58 (GMT)
Transocean: Erster Kurs an SIX Swiss Exchange bei 95,20 CHFZürich (awp) - Die Aktien des Tiefsee-Ölbohrkonzerns Transocean sind am Dienstag (Tuesday, 20.04.2010) mit einem Kurs von 95,20 CHF in den Handel an der SIX Swiss Exchange gestartet. Gegen 9.10 Uhr notieren die Titel in einem freundlichen Gesamtmarkt bei 96,25 CHF und weisen ein Handelsvolumen von gut 1,0 Mio Stück auf. An der New Yorker Börse hatten die Valoren am Vorabend mit 88,29 USD oder umgerechnet rund 94 CHF geschlossen.
http://www.stocks.ch/nachricht/Transocean_Erster_Kurs_an_SIX_Swiss_Exchange_bei_95_20_CHF_46575
GENEVA — Transocean Ltd., which owns the Deepwater Horizon oil rig that exploded in the Gulf of Mexico, is to be included in the index of top 20 shares traded on the Swiss stock exchange, officials said Thursday.
Transocean will replace insurer Swiss Life Holding on the list of the biggest and most actively traded companies on the Zurich exchange, according to a statement by the Swiss stock market operator SIX.
The company moved its headquarters to Switzerland from the Cayman Islands two years ago to take advantage of the Alpine nation’s low corporate tax rate and robust legal system. About a dozen of its 18,000 employees are based in Steinhausen, 16 miles (25 kilometers) south of Zurich, while at least 10 executives work from Geneva.
Transocean has been traded on the Swiss exchange since April 20, the day of the rig explosion. Its shares have since plummeted from 95.20 Swiss francs ($82.70) to 58.50 francs. The company is also listed on the New York Stock Exchange
http://www.chron.com/disp/story.mpl/business/deepwaterhorizon/7034288.html
Transocean: The drilling contractor is believed to have $560 million of physical damage insurance, which is highly syndicated. Insurers have already paid out over $400 million to-date under this coverage. In addition, Transocean carries some $950 million in third party liability insurance, of which $700 million excess of $50 million is thought to cover offshore risks.
http://www.iii.org/presentations/Deepwater-060210/
[B][B]1851 law[/B]
[/B]May 13, 2010
NEW YORK - The company that owns the sunken Deepwater Horizon rig said Thursday it will petition a federal court in Houston to cap its overall liability from the incident at less than $27 million…
ZUG, SWITZERLAND – May 13, 2010 – Transocean Ltd. (NYSE: RIG) (SIX:RIGN) today announced that, at the instruction of its insurers and in order to preserve insurance coverage, several of its affiliated companies have filed a petition in U.S. District Court for the Southern District of Texas, in Houston, under the federal Limitation of Shipowner’s Liability Act in connection with the recent Deepwater Horizon casualty.
Transocean said it believes this step is necessary to protect the interests of its employees, its shareholders and the company. *
The company noted that one of the primary goals of this filing is to consolidate in a single court many of the lawsuits that have been filed following the Deepwater Horizon casualty to initiate an orderly process for these lawsuits and claims before a single, impartial federal judge. The filing also would establish a single fund from which legitimate claims may be paid. Transocean believes this type of orderly process is in the best interests of all parties involved.
The company emphasized, however, that its focus remains centered on remediation and meeting the needs of its injured and deceased employees and their family members during this difficult time – as demonstrated by the efforts of its family response team members. The Company intends to pursue resolution with its employees as quickly as possible, but out of respect, not before the upcoming memorial service.
http://www.deepwater.com/fw/main/Transocean-Ltd-Affiliates-File-Limitation-of-Liability-Petition-452C936.html?LayoutID=46
*Once Transocean files this limitation of liability petition, the statute of limitations for injured workers to file their claims will be dramatically reduced to just six months.
http://www.themaritimelawyer.com/transocean-will-petition-to-limit-liability-in-oil-rig-explosion/
Five days after appearing before Congress to testify about its responsibility in one of the worst oil spills in US history, the Swiss company that owned and operated the oil rig that sunk into the Gulf of Mexico announced that it would shell out $1 billion in dividends to shareholders.
&
Transocean has passionately argued that they don’t share financial responsibility for the disaster. A clause in a contract they had with BP says that the oil company is obligated to pay for any environmental damage, even though Transocean actually owned the rig. BP was leasing the rig from Transocean at the time of the accident.
http://rawstory.com/rs/2010/0517/spill-rig-owner-approves-1-billion-dividend-shareholders/
Commercial & Company Data:
http://www.moneyhouse.ch/en/u/pub/transocean_ltd_CH-170.3.032.555-9.htm#21.05.2010
Transocean Ltd., in Zug, CH-170.3.032.555-9, Aktiengesellschaft (SHAB Nr. 182 vom 21.09.2009, S. 21, Publ. 5256090).
Statutes changed: 14.05.2010.
New legal seat: Steinhausen.
…Free int.