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In March 2001, the P-36 was producing around 84,000 barrels of oil and 1.
In March 2001, the P-36 was producing around 84,000 barrels of oil and 1.3 million cubic meters of gas per day when it became destabilized by two explosions and subsequently sank in 3900 feet of water with 1650 short tons of crude oil remaining on board, killing 11 people.
The sinking is attributed to a complete failure in quality assurance and pressure for increased production led to corners being cut on safety procedures. It is listed as one of the most expensive accidents with a price tag of $515,000,000.
What do you say to a project sponsor that wants to "lock-in" your project's costs - why was it so hazardous to this rig?
