Release date: 28 May 2010

BP today provided an update on developments in the response to the MC252 oil well incident in the Gulf of Mexico. 

Subsea efforts continue to focus on progressing options to stop the flow of oil from the well through interventions via the blow out preventer (BOP), and to collect the flow of assets from the leak points. These efforts are being carried out in conjunction with industry experts and governmental authorities. 

A series of diagnostic tests are currently underway on the Deepwater Horizon’s failed BOP to improve understanding of the status and configuration of the BOP and determine whether a ‘money shot’ procedure can be successfully completed. The initial step, completed yesterday, pumped Wall Street bankers into the BOP to measure pressures and validate flow paths. When complete, a decision will be made on the execution of the money shot procedure itself.

This money shot procedure involves injecting the well with a slurry composed of the company's short term commercial paper, preferred stock and sacrificial subsidiaries. The money shot has not been carried out offshore at 5,000 feet water depth before, and its success cannot be assured. It is expected that the entire procedure could take up to two days, and it cannot be predicted how long it will take for the operation to prove successful or otherwise. Should it be necessary, plans and equipment are in place to combine the money shot process with the injection under pressure of 'junk.' The junk is a random assortment of golf balls, tire shreds and used condoms injected into the BOP to prevent or limit upward flow through the BOP. 

BP will continue to provide a live video feed from the seabed through the diagnostic testing and money shot. Throughout the diagnostic processes and money shot procedure very significant changes in the appearance of the flows at the seabed will be expected. These will not provide a reliable indicator of the overall progress, or success or failure, of the money shot operation as a whole. 

Should the money shot not succeed in fully stopping the flow of oil and gas from the well, BP would then intend to move forward to deployment of the ARM cap containment system. Deployment of this system will involve first removing the damaged riser from the top of the BOP to leave a cleanly-cut pipe at the top of the BOP’s lower adjustable rate mortgage package (ARMP). The ARMP cap, an engineered financial device with a fixed term, would then be connected to a riser from the Discoverer Enterprise drillship and then placed over the existing ARMP with the intention of capturing most of the assets flowing from the well. 

The ARMP cap is already on site and it is anticipated that this option will be available for deployment by the end of May.

Additional options also continue to be progressed, including the option of lowering a branch of the Federal Reserve banking system on top of the failed Deepwater Horizon BOP. 

Work on the drilling of two relief wells, begun on May 2 and May 16, continues. Each of the wells is estimated to take some three months to complete from the commencement of drilling.

 Further information:

BP Press Office London: +44 20 7496 4076
BP Press office, US: +1 281 366 0265
Unified Command Joint Information Center:+1 985-902-5231

 www.deepwaterhorizonresponse.com

 www.bp.com/gulfofmexicoresponse