BP Subsea Efforts Continue To Focus On Two Fronts

BP PLC (BP.LN) said Monday that at the MC252 oil well incident in the Gulf of Mexico, subsea efforts continue to focus on two fronts: first, reducing the flow of oil spilled by physical containment and second, further work on stopping the flow using a "top kill" option.

MAIN FACTS:

-The cost to date of the response amounts to about $350 million, including the cost of spill response, containment, relief well drilling, commitments to the Gulf Coast States, settlements and federal costs.

-The containment dome that was deployed last week has been parked away from the spill area on the sea bed.

-Efforts to place it over the main leak point were suspended at the weekend as a build up of hydrates prevented a successful placement of the dome over the spill area.

-A second, smaller containment dome is being readied to lower over the main leak point.

-The small dome will be connected by drill pipe and riser lines to a drill ship on the surface to collect and treat oil.

-It is designed to mitigate the formation of large hydrate volumes.

-This operation has never been done before in 5,000 feet of water.

-In addition, further work on the blow out preventer has positioned the company to attempt a "top kill" option aimed at stopping the flow of oil from the well.

-This option will be pursued in parallel with the smaller containment dome over the next two weeks.

-All of the techniques being attempted or evaluated to contain the flow of oil on the seabed involve significant uncertainties because they have not been tested in these conditions before.

-Work on the first relief well, which began on Sunday May 2, continues. It is expected to take some three months to complete.

-Work continues to collect and disperse oil that has reached the surface of the sea.

-More than 275 vessels are being used, including skimmers, tugs, barges and recovery vessels.

-Shares closed Friday at 533.9 pence.

-By Iain Packham, Dow Jones Newswires; 44-20-7842-9269; [e-mail]