Venice, LA aka End of the World:Hurricanes, Oxygen-deprived Dead Zone and a Forest of High-risk Oil Rigs

April 26, 2010

Venice, Louisiana is aptly nicknamed “the end of the world.” The community of 1000, which includes Venice, Orchard and Boothville, is south of New Orleans is the most southerly terminus of the Great River Road and the last community on the Mississippi River. Venice was almost completely destroyed by Hurricane Katrina. East of Venice, LA is a human-induced oxygen deprived dead zone on the Gulf of Mexico seabed with too little oxygen to support fish, shrimp, crabs and other forms of marine life, that expanded to its largest on record by 2008 of c. 8,000 square miles.

One of Venice’s main industries is to provide service and transport for off-shore petroleum platforms, including BP’s  Deepwater Horizon oil rig which exploded 2010-02-20 killing eleven people and causing a huge oil spill.

Deepwater Horizon, built in 2001, was a Transocean-owned semisubmersible drilling rig but it was leased to BP (65%), with partners Anadarko Petroleum Corp. and Mitsui & Co. owning the remainder.

BP plc founded in 1909 as the Anglo-Persian Oil Company (See wiki for its Iranian-British-American history), which became The British Petroleum Company plc then BP Amoco plc now called BP) “is a British global energy company that is also the third largest global energy company and the 4th largest company in the world. As a multinational oil company (“oil major”) BP is the UK’s largest corporation, with its headquarters in St James’s, City of Westminster, London.[2][3][4] The company is among the largest private sector energy corporations in the world, and one of the six “supermajors” (vertically integrated private sector oil exploration, natural gas, and petroleum product marketing companies). BP’s 2009 reports a revenue of $246.1 billion, a net incomeof US $16.58 billion, a total equity of US $101.6 billion with 92,000 employees worldwide. wiki source

See dramatic photos here.

BP’s Gulf of Mexico Deepwater operations which include Atlantis Oil Field, Thunder Horse, Mad Dog, Pompano, Holstein, Horn Mountain, Marlin, Nakika and Tiber oilfield (announced 2009; production not commenced) operates from Houston, Texas.

“Transocean LTD is the world’s largest offshore drilling contractor. The company rents out floating, mobile drill rigs, along with the equipment and personnel needed for operations, to oil and gas companies. The company was spun-off from its parent, Birmingham, Alabama based Sonat, Inc. in 1993 and was originally called Sonat Offshore Drilling, Inc. Sonat Offshore acquired the Norwegian group Transocean ASA in 1996 and adopted its name. In 2000 the company merged with Sedco Forex, and was renamed Transocean Sedco Forex. In 2001 the company bought Reading & Bates Falcon. The name of the company was simplified to Transocean in 2003. Sedco Forex was originally part of Schlumberger until 2000 when it was spun off. Sedco Forex was originally formed from the merger of two drilling companies, the Southeast Drilling Company (Sedco) and French drilling company Forex. Transocean employs approximately 26,300 people worldwide and has a fleet of 136 vessels and units as of March, 2009. It was incorporated in the Cayman Islands while the principal office is in Houston, Texas. On December 8, 2008, the company’s shareholders voted to move its incorporation from the Caymans to Zug, Switzerland. The company has offices in 20 countries around the world, with major offices in Stavanger, Aberdeen, Perth, Brazil, Indonesia and Malaysia. On July 23, 2007, Transocean announced a merger with GlobalSantaFe Corporation. The merger was completed on November 27, 2007.” wiki source

Steven L. Newman, CEO became CEO of Transocean in March 2010 just before the explosion. Newman joined the company in 1994 in the Corporate Planning Department. Mr. Newman holds a Bachelor of Science degree in Petroleum Engineering from the Colorado School of Mines and an MBA from the Harvard University Graduate School of Business.

Macondo prospect:
“The Macondo prospect is located on Mississippi Canyon Block 252 in the Gulf of Mexico in a water depth of 4,993 feet (1,522 meters). BP serves as the operator and holds a 100% interest in the prospect, which was acquired at the MMS Lease Sale #206 in March 2008. On Feb. 23, 2009 an EP was submitted to MMS (OCS-G 32306) proposing to drill and temporarily abandon two exploratory wells on the field. Transocean’s Deepwater Horizon semisub, which caught fire on April 20, 2010, was drilling the Macondo prospect. According to Dow Jones, the well had reached a depth of at least 11,500 feet (3,502 meters), when BP filed a permit with MMS to temporarily abandon the well. The rig sunk after erupting into flames from a blowout. BP may drill a relief well, if required, and will utilize a nearby drilling rig, which is available to commence drilling immediately source.”

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