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BP Signs Offshore Drilling Deal In Caspian Sea

BP Signs Offshore Drilling Deal In Caspian Sea

Despite lingering questions about the safety of deepwater drilling operations, the State Oil Company of the Republic of Azerbaijan has agreed to let BP drill for oil in the Caspian Sea.

The deal is the first signed by BP’s new chief executive, Bob Dudley, who took over from Tony Hayward on October 1.

“We in BP very much hope that the combination of our leading technology and expertise with Azerbaijan’s experience and potential will lead to new discoveries in the Caspian,” Dudley said in a statement.

Considering that BP’s technological failures and lax enforcement of safety regulations contributed to the worst environmental disaster in U.S. history, their “expertise” might be a debatable attribute.

What’s At Risk?

The Caspian Sea is the biggest enclosed body of water on Earth, having an even larger area than that of the American Great Lakes or Lake Victoria in East Africa.

Due to its unique and diverse habitats, the Caspian Sea has become home to many rare species of flora and fauna, including the sturgeon fish, often referred to as a living fossil.

Although rich in commercially developable hydrocarbon deposits, the magnitude of oil and gas extraction and transport activity in the Caspian Sea constitutes a major risk to water quality. The proposal of underwater oil and gas pipelines only increases these potential environmental threats.

BP has been selling off many of its assets since it was ordered to foot the bill for the Gulf Oil spill disaster. However the company has maintained its Azerbaijan holdings, and even approved a $6 billion plan to increase offshore oil production in that country.

The U.S. Department of Interior first established a temporary ban on deepwater oil drilling on July 12. The current moratorium is set to expire on November 30.

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Image Credit: Flickr - dsbnola

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108 comments

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12:47PM PDT on Apr 20, 2011

OH DEAR ME NOT AGAIN GRRRRRRRRR

12:36PM PDT on Apr 20, 2011

oh no they should not even think about drilling grrrrrrrrrrrrr

7:44PM PDT on Oct 24, 2010

Here we go again!!! Spill, Spill, Spill......

1:16PM PDT on Oct 19, 2010

I agree with Mike P. we need to stop putting money into the pockets of the ultra-rich. That to me is the oil companies,insurance companies, and any other company that has a control need. Verizon, ATT, and to many to write here.

3:42AM PDT on Oct 17, 2010

I hope that people will stop saying that Corporations and governments are acting stupidly doing things that are risky or damaging to the natural environment. They are not stupid they are very clever it is just that their primary motive is profit maximisation in fact they are legally obliged to do that. They have a legally binding agenda to make money at the expense of any other consideration including the health and well being of anyone or anything that stands in their way. The governments of the world are also in cohoots with global business over this destructive psychopathic behaviour as their primary motive is maximisation of GDP (profit maximisation) and retaining power at all costs. There is no longer any true democracy in this world anymore just the marketed illusion of any. We need to stop consuming from these companies and stop supporting governments. We need to regroup at a local level and start experimenting with ways to live that turn our backs on governments and corporations as they have now demonstrated that they are irrelevant and counterproductive when it comes to the survival of the human species and the majority of other living organisms that inhabit this earth. By simply cussing their stupidity we are ignoring the facts and disempowering ourselves. It is time to get angry but to do something about it. Ultimately corporations and governments only maintain a hold over us and the status quo if we buy into their illusions. Lets get creative and organise.

9:29AM PDT on Oct 15, 2010

Well I think most of you are spot on, stop drilling in our oceans!

9:14PM PDT on Oct 14, 2010

Why aren't people paying attention? Are they all brain-dead? BP will certainly continue cashing in with this mentality running things.

After the fact, when water quality and the environment show signs of the disaster resulting from this venture. Too late as usual!

8:22AM PDT on Oct 14, 2010

EXCELLENT ANOTHER IMPENDING DISASTER, ANOTHER NAIL IN OUR COFFIN. WE ARE ALMOST EXTINCT A FEW MORE SPILLS MAYBE THEN.

11:06PM PDT on Oct 13, 2010

BP lack of shame is evident, but even more evident is the hunger for money and power of all these small barely known nations that happened to be sitting in oil deposits and want to cash out their holdings

7:43PM PDT on Oct 13, 2010

Silly Tom Sullivan ;) The Government IS one of BPs ass-etts!!!!

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