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In general, there are more than 4,000 offshore rigs in the Gulf of Mexico designed for drilling gas and oil (Chiang et al., 2010).According to researchers, “many people who live in the five U. states that border the Gulf of Mexico (Texas, Louisiana, Mississippi, Alabama and Florida) depend on the Gulf for jobs and survival”(Chiang et al., 2010, p. One more important function of the Gulf of Mexico is the growing fishing industry that provides over 1.3 pounds of fish and shellfish each year.
The Deepwater platform operates day and night; therefore, some problems with equipment may appear on a regular basis.
This report is aimed at giving explanation of some important risk management practices that should be taken into consideration by other companies to avoid negative consequences, similar to the Deepwater Horizon platform’s disaster.
Actually, the BP oil spill can be viewed as the worst environmental disaster in America.
The BP oil spill occurred near Mississippi River Delta, as a result of a deep-sea floor oil gusher, which was made by the massive explosion of the Deepwater Horizon platform, one of the most efficient and effective semi-submersible drilling rigs in the Gulf of Mexico.
The BP oil spill in the Gulf of Mexico is considered to be the “largest accidental marine oil spill in the history of petroleum industry, being 8%-31% larger in volume that the previous largest oil spill, the Ixtos I oil spill” (Holland & Schemwell, 2014, p. The BP oil disaster is often called the Deepwater Horizon oil spill.
It occurred on 20 April 2010 in the Gulf of Mexico on the BP-operated Macondo Prospect.The oil spill affected both human beings and the environment, polluting and damaging vast areas of the adjacent territories and the large populations of wildlife.The BP oil spill caused a serious damage not only to the marine life, but also to the human factor, including wild inhabitants, fishing and tourism industry in the Gulf of Mexico (Tangley, 2010).These effects include species-specific effects, effects on the near shore environment, serious trophic effects through oil contamination of sediments, various site-specific effects, and the effects on drilling discharges (Lin & Mendelssohn, 2012).Based on recent research findings, “the BP oil spill in the Gulf of Mexico that followed the explosion of the exploration platform Deepwater Horizon on 20 April 2010 was the largest accidental oil spill” in America that requires finding the proper solutions to develop effective risk management practices.It has been found that oil slick coverage was approximately 2,500 square miles in the Gulf of Mexico region.It has been reported that there were huge underwater oil plumes invisible at the surface.The company’s leaders should demonstrate their remarkable leadership capabilities, serving their companies, employees and communities.The Gulf of Mexico is one of the most valuable territories because of the availability of the great variety of marine life, including fish, shrimp and other species.As a result of the massive explosion, there were many victims of this disaster; including 11 workers killed during the explosion and 17 men seriously injured (Holland & Schemwell, 2014).On the 15th of July, 2010, the gushing wellhead was capped, but the Deepwater Horizon platform released over 4.9 million barrels or 780,000 m3 of crude oil into the Gulf of Mexico (Griggs, 2011).