March 7, 2011

BP: Oil Spill No Reason To Stop Deep Sea Drilling

BP's chairman Carl-Henric Svanberg said Monday that last year's massive Gulf of Mexico oil spill sparked by an explosion on a BP-leased platform is no reason to stop deep sea drilling.

"If we truly learn from this accident, I see no reason to close off the deep water as an area for future oil exploration and production," BP chairman Svanberg told a conference in the southern Swedish city of Malmoe on oil spill risk management.

"All energy extraction has its risks and it is our task and our contract with society to make sure that we can take these risks responsibly," he said.

Svanberg took over as chairman of the British oil giant on January 1, 2010.

The explosion on the BP-leased Deepwater Horizon Gulf of Mexico platform that took placed on April 20 wreaked havoc on the region's environment and economy.

Svanberg said that the spill "is an accident that should never have happened."

"It was the result of a complex series of inter-linked events, decisions and missed opportunities by multiple parties," he said, adding "we fully accept our share of responsibility.

"We were certainly not perfect in our response but we have tried to do the right thing and we are making significant changes to our organization as a result of this accident."

"We do know that we can learn from this, that we can move forward, do everything we can to prevent that it happens again," he insisted.


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