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April 04, 2011 – Comments (2) | RELATED TICKERS: RIG

is the state of being "safe" (from French sauf), the condition of being protected against physical, social, spiritual, financial, political, emotional, occupational, psychological, educational or other types or consequences of failure, damage, error, accidents, harm or any other event which could be considered non-desirable. - wikipedia

Transocean Gives Bonuses After Gulf Spill

The offshore drilling firm responsible for running the Deepwater Horizon rig has given its top executives bonuses for its "best year" for safety.

Transocean was blamed along with BP and Halliburton after last year's massive spill in the Gulf of Mexico.

Eleven workers, nine of whom worked for Transocean, died when the Deepwater Horizon exploded almost a year ago.

But Transocean said there had been a drop in the rate of recorded incidents and also in their potential severity.

It is always nice to hear about how well corporate executives understand and manage their "risk". I wonder what it would take for todays executive to think they have done a bad job of managing their companys?

I also remember there being some talk of a discrepancy between "recorded" incidents and "actual" ones after deepwater blew.

Best wishes,

Steven

2 Comments – Post Your Own

#1) On April 04, 2011 at 9:09 AM, ETFsRule (99.92) wrote:

But Transocean said there had been a drop in the rate of recorded incidents and also in their potential severity.

I wish they would publish their incident reports to the public... it would be interesting to see how many oil rigs almost blew up in 2009 compared to 2010.

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#2) On April 04, 2011 at 6:40 PM, devoish (96.39) wrote:

ETFsRule,

It is only Monday, but yours may be the best reply of the week.

Best wishes,

Steven

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