In Offshore Technology, White & Case partner Steven Otillar is quoted on the impact of global deepwater drilling regulations on the oil & gas industry.
On the regulatory landscape in the deepwater drilling space, Steven says, "While there are several international conventions involving the maritime energy industry, it is mainly a country-by-country regulatory approach."
Steven highlights MARPOL, the International Convention for the Prevention of Pollution from Ships, as one of the most significant maritime environmental conventions that impacts the global offshore energy industry.
"The importance of MARPOL cannot be understated," he says, "and even ASEAN (the Association of Southeast Asian Nations), which has established its own regulatory system, for the most part follows MARPOL standards," Steven adds.
"As we see more drilling beyond the continental shelf and exclusive economic zones, it will be interesting to see how matters develop," he notes. "There will most likely be a patchwork of regulations and internal corporate safety policies to be applied, which will vary greatly among operators."
See the full Offshore Technology article here.
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