Marine Well Containment Company Establishes Membership

Wednesday, April 20, 2011

The Marine Well Containment Company (MWCC) announces that its membership has grown to 10 members at the conclusion of the company's formation period. The MWCC member companies are now Chevron, ConocoPhillips, ExxonMobil, Shell, BP, Apache, Anadarko, BHP Billiton, Statoil and Hess. These 10 companies operated approximately 70 percent of deepwater wells drilled in the U.S. Gulf of Mexico between 2007 through 2009.

Marty Massey, chief executive officer of MWCC, said, 'Our membership includes companies that are active in the deepwater Gulf of Mexico. This membership strengthens MWCC's collective expertise and underscores our capability for deepwater well containment.'

MWCC's interim containment response system, which is ready for deployment, is capable of operating in water depths of 8,000 feet and processing up to 60,000 barrels of fluid per day. Work is under way to expand the system to operate in water depths of 10,000 feet and process up to 100,000 barrels of fluid per day, with components to be delivered in 2012.

'Our interim containment response system is the result of strong collaboration among our member companies. We have the equipment, resources and a predefined response plan to execute in the event we are called upon,' said Massey.

The Bureau of Ocean Energy Management, Regulation, and Enforcement (BOEMRE) recently observed a function test of a new capping stack that was fabricated for the system and has been actively engaged in reviewing functional specifications and response plans. To date, BOEMRE has approved four well permits citing the MWCC system.

Massey continued: 'MWCC is a not-for-profit, independent organization available to all deepwater U.S. Gulf of Mexico operators. Even if an operator is not a member of MWCC, our system may be accessed on a per well basis and cited in their respective applications for permits to drill.'

MWCC maintains and stewards equipment, procedures, materials and critical contracts. It holds member orientations, tests readiness through drills and will evaluate the need to upgrade equipment as technology evolves and our members' needs expand.

View our focused Gulf of Mexico link and stay in touch with the latest news and companies active in this region.

This article is for information and discussion purposes only and does not form a recommendation to invest or otherwise. The value of an investment may fall. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser. More

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