BP (NYSE:BP) Close to Launching Offshore Drilling in Libya

Citing the desire of the company to be extra careful after the oil spill in the Gulf of Mexico, along with changing the oil rig they were going to use, BP (NYSE:BP) spokesman Robert Wine said the company is readying itself to begin offshore drilling off the coast of Libya in June; a little later than anticipated.

Wine noted, "We postponed it to do extra checks following the oil spill and also the rig we had lined up we decided wasn't suitable, so we've got another rig.

"Onshore, we've got a rig in place and they are getting ready, so that should get under way shortly."

Originally the company had had plans in place to launch offshore drilling in Libya in 2010.

As to the changing of oil rigs, BP was going to use a rig from Noble Corp. (NYSE:NE), but decided to go with the Deep Ocean Ascension from Pride International Inc (NYSE:PDE) instead.