History and Operations
British Petroleum (BP) is based in the United Kingdom and is one of its largest corporations. The true history of BP began with the discovery of oil in Persia in 1908, after seven years of fruitless discoveries. The Anglo-Persian Oil Company, which later became BP, opened stock for trading after this discovery. During this time, any oil and gas infrastructure was nonexistence, as well as procedures put in place to expedite the process. Therefore, it took years for these early wells to receive the infrastructure necessary to pipe the products out of the oil fields.
During these early days of oil exploration, finding a market was more difficult than it is today. Cars were still too expensive for most families to afford, and since the company could not remove the sulphurous smell, selling the oil for heating fuel was not an option. However, oil became a much-needed commodity with the start of World War I, saving this early company.
The brand name of British Petroleum was initially created by a German firm to market its products in Britain. However, during the war, the British government seized the company’s assets and sold to Anglo-Persian in 1917, thereby creating the modern BP. The company has had multiple acquisitions over the years and now owns drilling rigs and platforms around the world, participating in exploration and production operations.
Deepwater Horizon was an offshore rig owned by Transocean on behalf of BP, and in September 2009, it drilled the deepest oil well in history at a depth of 35,050 feet. On April 20, 2010. A blowout occurred, leading to an oil rig explosion. The resulting fire on the oil rig raged for two days before the oil rig sank, eventually causing the largest oil spill in U.S. waters. The accident occurred at the Macondo oil field, which BP owned a majority interest in. As a result, BP has been held accountable for many of the damages relating to the oil spill.
The Malley Law Firm | Houston Maritime Lawyer
If you or a loved one have been injured in an offshore accident, do not hesitate to contact the Malley Law Firm. Tony Malley has years of experience in assisting clients with their maritime injury claims and will work tirelessly to ensure you receive the compensation you deserve for your injuries. Contact our Texas offices today for your initial free consultations.