BUSINESS

BP To Resume Gulf Of Mexico Drilling, Year After Deepwater Horizon Oil Spill

04/03/2011 12:58 pm ET | Updated Jun 03, 2011

(Reuters) - BP has struck a deal with U.S. regulators that will allow it to resume deepwater drilling in the Gulf of Mexico, a year after the Deepwater Horizon rig exploded, the Sunday Times reported.

The oil major was understood to have granted 24-hour access to government overseers and had agreed to safety requirements more stringent than the tougher rules imposed after the disaster, the newspaper reported without citing sources.

BP will only be able to maintain or increase production on existing platforms and not drill exploration wells when drilling resumes in July, the Sunday Times said.

BP declined to comment on the report.

(Reporting by Paul Sandle; Editing by Erica Billingham)

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