BSEE Proposed Well Control Rule Projected Costs and Economic Impacts
Since 2010, government and industry have made a continuous effort to enhance safety offshore. Together, we have improved regulations and operational standards to effectively protect workers and the environment and ensure designs are robust and equipment operates as expected. However, the government proposed an additional Well Control Rule on April 17, 2015. Unfortunately, many of the prescriptive requirements contained within the proposed rule will neither improve safety nor reduce environmental risk in drilling operations, but will actually have the unintended consequence of increasing risk beyond what is presently done today under existing regulations. As a result, the dramatic costs and economic impacts of the rule as described below are not justified. Given the flawed and costly approach of the proposal, BSEE should engage industry to work on a rule that achieves the shared goal of enhanced safe operations without the dramatic economic and energy security impacts detailed below.
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