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BP hopeful for relief well to be ready by Aug

BP hopeful for relief well to be ready by Aug

Write: Kesi [2011-05-20]
In a latest move towards containing oil spillage at the BP s oil well in the Gulf of Mexico, the British oil major on Sunday informed about the progress being made on the new system to tap the leaking oil. A relief well is believed to be ready by mid-August as a support to it.

The company has expressed hopes to contain the leak and funnel nearly 80,000 barrels per day of crude oil to the vessels on the surface, which will be more than three times the current amount.

The British energy giant, BP Plc (NYSE:BP) maintained that the first relief well will intercept Macondo by the end of July, which will eventually lead to tap the leak by mid-August.

Reuters quoted Kent Wells, Sr. vice president of the company as saying that the company is on track to start a rig on Sunday evening that can siphon up to 25,000 bpd from the well. "We're pleased with our progress, he further added.

The oil giant has set up a $20 billion oil spill fund following the government pressure from the US.

The oil spill has compelled the British oil giant to engage a staff of 46,000 and 6,400 ships so far in the clean-up effort since the accident took place on April 20 in the Gulf of Mexico.