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The agreement represents a new business model for the industry, providing a steady income stream for GE, and decreased risk for the driller, the companies said in a joint statement Monday.
Bill Maddock, an expert in offshore operations and engineering, has been tapped to lead a Houston-based deepwater offshore energy research center established in the aftermath of the Deepwater Horizon spill.
Workers reacted too slowly to stop a Gulf of Mexico well blowout that forced the evacuation of 44 people and ignited a fire that raged for two days in 2013, according to a federal investigation.
The company kicked off the campaign in Houston, at its factory near George Bush Intercontinental Airport where it manufacturers blowout preventers, the three-story tall pieces of equipment that act as the final barrier to ruptured offshore oil wells.
New offshore safety rules would make drilling some wells too difficult, industry lobbyists tell White House
More than a dozen oil companies and drilling contractors joined leading industry trade groups in pushing back against proposed federal mandates for offshore wells they say would make some impossible to drill. The proposed requirements were spurred by the Deepwater Horizon disaster.
An emergency containment system was being tested in waters near Washington state on Tuesday, while those drilling permit reviews are under way.
Work on the Mark IV HA began three years ago with six months of research, followed by two-and-a-half years of engineering.
The measure codifies many of the steps that companies have already taken to better keep offshore wells in check, including more rigorous maintenance and testing of the blowout preventers that act as a last line of defense against uncontrolled surges of oil and gas.
The Obama administration is poised to lay out new requirements for controlling offshore wells, nearly five years after the Gulf of Mexico oil spill vividly illustrated the damage that can be unleashed when they are not kept in check.
If convicted on two counts of making false statements to federal agencies, he could get up to 10 years in prison and $500,000 in fines.