BP oil spill will be game changer for the industry: R S Sharma
State owned oil and gas behemoth ONGC’s CMD R.S. Sharma said, oil spill in gulf of Mexico from BP owned field is going to prove a game changer event for entire exploration and production industry and it will leave long term impact on the industry.
Addressing a press conference here on Wednesday Sharma said, there is already moratorium imposed by US government on further deep water and ultra deep water drilling activities and this moratorium might get extended to other parts of North America and North Sea as clamour for such moratorium increases in European countries too.
He further said, from now on it will be tough to get approval from regulators for deep water and ultra deep water E&P and they will demand higher safety standards, which will result in cost escalation for both operators as well as service providers.
After the incident we reviewed our safety practises almost five times and we fill, we are prepared to handle such accident takes place in the Indian offshore sector, he assured.
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