All of those cut corners and outright mistakes BP made on well design? Turns out purportedly silent partner Anadarko had oversight over the design process, reports FT:
[B]oth Anadarko and BP have confirmed to the Financial Times that the US company was aware of design choices that lawmakers, who have accused the UK company of cutting corners to cut costs, have criticised.
These decisions include the choices for how it lined the well and how many so-called centralisers – devices that stabilise a well before it is cemented – were used.
Anadarko spokesman John Christiansen has explained this inconvenient truth by saying “The problems were caused by BP’s execution of each of these” — obviously a weaker than saying the Texas company had nothing to do with design.
Anadarko stock is actually up around 0.5% since the news broke this morning, so perhaps investors saw this coming. BP stock is up a resurgent 4.75%.