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Macondo Revisited and the Role of IT

By Jill Feblowitz

The recent settlement with Transocean to pay $1.4 billion in fines associated with the DeepWater Horizon brings to mind again the risks associated with exploration and production - loss of life, environmental impact, and the consequent economic impact. Another recent event – a drilling barge set adrift in heavy storms in the Gulf of Alaska – ended on a better note, with Shell recovering a drilling barge after it was successfully evacuated. While the focus has been on prevention, given the nature of the industry and the uptick in extreme weather events, the industry will not be hazard free. A lot of attention has been paid to prevention, but how can information help in reducing losses and environmental impact once an incident has occurred.

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