Posted in | Crude Oil / Petroleum

BP Seeks Financial Help from Deepwater Horizon Partners

As the economic burden of the cleanup effort in the Gulf of Mexico grows exponentially BP is now seeking financial help from other partners related to the disaster.

The well was owned 25 % by Anadarko Petroleum Corporation and 10% by Mitsui Oil Exploration Company besides BP's 65%.

The company has repeatedly said that it would pay for the cleanup and damages, but it obviously expects the partners to pitch in. So now BP has asked for $272 million from Anadarko Petroleum Corporation and $111 million from Mitsui Oil Exploration Company.

This is reflective of each company’s joint operating agreement with BP. As Toby Odone from BP said they would expect the various parties involved to live up to their responsibilities. Anadarko spokesman John Christiansen did not wish to comment on the demands made by BP saying that they were still assessing their contractual remedies.

A Mitsui spokesperson said that the company had until July 12th to pay the sum demanded, however he did not mention if they were going to pay the sum. The April 20, 2010 explosion at the Deepwater Horizon drilling rig is pumping thousands of gallons of oil into the Gulf of Mexico daily.

BP has already spent $2.65 billion in collection and control efforts to stop the spill.

Joel Scanlon

Written by

Joel Scanlon

Joel, originally from the UK, emigrated to Australia in 1995 and spent 5 years working in the mining industry as an exploration Geo-technician where he developed skills in GIS Mapping and CAD. Joel also spent a year working underground in a gold/copper mine. Upon moving to the North Coast of NSW, Australia Joel worked as a graphic designer for a leading consultancy firm before starting a successful business providing graphic and web design services to local businesses on the eastern seaboard of Australia. Joel is skilled in project management, web programming, design, animation, database and networking, software and editing. Joel has been with AZoNetwork since its inception in 2000.

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