After the BP Deepwater Horizon oil spill in 2010, oil companies and lawmakers created additional regulations and changes to ensure that an accident like that one didn't happen again. But though the incident took place in the Gulf of Mexico, it wasn't just American regulations that changed, as other countries around the world were again reminded of the potential dangers and liabilities that come with working in the offshore drilling industry.
Most recently, the European Union increased its regulation of offshore drilling companies, according to Bloomberg. The new rules would require companies to have and submit emergency response plans in case of an accident, as well as a special hazards report. Offshore drilling companies would also be responsible for a larger zone while drilling.
"The tighter regulation marks the EU's effort to improve safety and bolster the 'polluter pays' principle in the energy industry following the Gulf of Mexico spill three years ago," the article said. "Eleven rig workers died and more than 4.1 million barrels of crude gushed into the Gulf after the Deepwater Horizon rig exploded and sank while drilling BP's Macondo well off the Louisiana coast."
While these regulations apply to those drilling in the EU, Belgian member Ivo Belet said that these standards could also be used internationally.
Since the BP oil spill, many involved in the offshore drilling industry have increased their safety precautions by their own accord, even without the extra regulations. For further protection, investing in the proper offshore oilfield insurance is vital. As offshore project managers increase their security and involvement, having the extra coverage in case anything goes wrong can help companies comfortably expand and adapt to new regulations.