GE oil deal offers new model to prevent BP-like spills

By the Salt Lake Tribune (Salt Lake City)

Feb 09, 2016

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General Electric is expanding its focus on offshore drilling rig safety with a new business that will take over handling of massive underwater equipment designed to prevent well blowouts and oil spills.

Diamond Offshore Drilling has agreed to sell back its blowout preventers to GE, which will then rent them to the driller. The arrangement shifts all maintenance and repair tasks to GE, which assumes responsibility for ensuring it works properly in an emergency.

Read the full story on sltrib.com.

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