Chevron takes full responsibility for Brazil spill

RIO DE JANEIRO, (Reuters) – U.S. oil company Chevron  promised to fully clean-up a spill off Brazil’s coast, the CEO  of the local subsidiary, George Buck, said on Sunday, taking  responsibility for an accident that has become a major test for  one of the world’s fastest-growing oil frontiers. The leak from the undersea well, owned in partnership with  Brazil’s state-controlled Petrobras and a Japanese consortium,  has been plugged and the residual oil flow from undersea rock  is now “more than 10 barrels,” but “less than hundreds of  barrels” per day, Buck said.

“Chevron takes full responsibility for this incident,” Buck  told reporters in Rio de Janeiro. “We will share the lessons  learned here in the hope that this sort of incident won’t  happen again in Brazil or anywhere else in the world.”

The spill, one of the largest to hit Brazil’s growing  offshore oil industry has raised questions about its safety and  ability to respond to accidents. Oil companies in Brazil are  testing the limits of drilling as they seek oil at depths as  much as 7 kilometers (4.4 miles) below the ocean surface,  putting equipment and people under strains often compared with  those for space flight.

The stakes are large. Brazilian oil companies expect to  produce about 7 million barrels of oil per day by 2020, most of  offshore near Rio de Janeiro, an amount that would make Brazil  the third largest oil producer after Russia and Saudi Arabia.

Opposition to offshore drilling is growing worldwide in the  wake of the estimated 4 million barrel BP Deepwater Horizon  spill in the Gulf of Mexico in 2010. Brazil’s Federal Police  are probing the spill for possible criminal action.