Related News
US oil giant plans 2 new oil spill funds
Source: Agencies |
September 21, 2011, Wednesday
|
Print Edition
Print Edition
CONOCOPHILLIPS plans a new fund to address environmental problems in China's Bohai Bay, following harsh criticism from marine authorities and environmentalists over oil spills in the heavily polluted sea.
The Houston-based company's announcement of the fund did not include any details regarding its size or specific uses. The company earlier said it would set up a separate fund to pay compensation for damage from the spills, which began in June in Penglai 19-3, China's largest oil field.
Small seeps from the spills are continuing, according to a report on Monday on the State Oceanic Administration's website.
The government ordered ConocoPhillips China, which operates the Penglai 19-3 oil field with state-owned partner China National Offshore Oil Corp, to stop all production pending a full cleanup and review to ensure no more oil seeps into the sea.
But last week it allowed Conoco to resume pumping of some oil meant to relieve pressure thought to be causing oil and drilling fluid to seep through faults from the offshore reservoir.
Conoco said it was setting up the two oil spill funds "in recognition of its obligations to the people and the government of China, and as part of its commitment to a long-term relationship with them."
The company has contended that any oil still seeping from the wells, which have been sealed, is residual from the earlier spills, which released about 700 barrels of oil and 2,500 barrels of mineral oil-based drilling mud - used as a lubricant for drilling. But its earlier report that it had cleaned up and stopped the spills by a late August deadline was rejected by the authorities.
It said it was continuing to sample and study the sea floor and clean up residual seeps.
The Houston-based company's announcement of the fund did not include any details regarding its size or specific uses. The company earlier said it would set up a separate fund to pay compensation for damage from the spills, which began in June in Penglai 19-3, China's largest oil field.
Small seeps from the spills are continuing, according to a report on Monday on the State Oceanic Administration's website.
The government ordered ConocoPhillips China, which operates the Penglai 19-3 oil field with state-owned partner China National Offshore Oil Corp, to stop all production pending a full cleanup and review to ensure no more oil seeps into the sea.
But last week it allowed Conoco to resume pumping of some oil meant to relieve pressure thought to be causing oil and drilling fluid to seep through faults from the offshore reservoir.
Conoco said it was setting up the two oil spill funds "in recognition of its obligations to the people and the government of China, and as part of its commitment to a long-term relationship with them."
The company has contended that any oil still seeping from the wells, which have been sealed, is residual from the earlier spills, which released about 700 barrels of oil and 2,500 barrels of mineral oil-based drilling mud - used as a lubricant for drilling. But its earlier report that it had cleaned up and stopped the spills by a late August deadline was rejected by the authorities.
It said it was continuing to sample and study the sea floor and clean up residual seeps.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
