Diamond, GE strike unique BOP accord

摘要

In what appears to be an industry first, deepwater driller Diamond Offshore and GE Oil & Gas have inked an accord that transfers full accountability for blowout preventer performance to GE. Under the terms of the 10-year contractual service agreement, known as "Pressure Control by the Hour" and which took eight months to negotiate, Diamond will compensate GE only when the BOPs on the driller's four new 6th-generation drillships are available for use.