By Steven Mufson
Tuesday, May 25, 2010; 11:37 AM
When it comes to offshore oil drilling, time isn't just money. It's a whole lot of money.
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Time worries weren't the exclusive province of BP. In a 2006 trade journal, Transocean and General Electric engineers wrote about how to save time on blowout preventer tests by leaving test valves in place. At a conference in 2009, a Halliburton official spoke about how to get cement to set faster. And in a conference call last August, Transocean's chief executive was grilled by investment analysts to explain how time lost because of rig accidents and blowout preventer problems had cut into profits.
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Concerns about time -- and money -- might also explain the installation of a test valve in the Deepwater Horizon's blowout preventer. In a 2004 letter, Transocean and BP agreed to substitute a test valve for one of three variable bore rams capable of pinching off oil flow in a blowout -- while acknowledging that the substitution would reduce redundancy and increase risk.
An article in the November/December 2006 issue of "Drilling Contractor" notes that "vitally important tests" of blowout preventers "carry a considerable cost in terms of rig time spent conducting the test, particularly in deepwater." The article, written by Gary Leach of Transocean and Bob Judge, chief engineer of Hydril, a GE unit that makes blowout preventers, said "substantial savings" were possible by leaving a test valve on the blowout preventer and turning it upside down to avoid having to withdraw pipe for testing. They said companies could save 12.5 hours or $260,000 of rig time with each test.
Yet BP recently told congressional investigators that it lost a precious day of time when it was trying to activate the blowout preventer after the accident; BP was baffled by the test valve's connections to the control panel.
more:
http://www.washingtonpost.com/wp-dyn/content/article/2010/05/25/AR2010052502293_2.html?sid=ST2010052404233