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.
Shell is far from alone in making a big bet on an offshore play only to end up with disappointing results. From the Gulf of Mexico to the shores of Angola, offshore exploration has yielded plenty of dry holes.
The move by the Interior Department’s Bureau of Ocean Energy Management is designed to ensure that the companies have set aside enough money to dismantle offshore facilities once oil and gas stops flowing.
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