Investment Glossary
Glossary of Investment Terms
Blowout Preventer
Definition: This is a large valve that seals off a wellhead. Needless to say, it’s one of the most important pieces of equipment.
They come in different varieties and have been used since the 1940s on virtually all wellheads, both on and offshore.
The BOP used on the Deepwater Horizon rig was made by Cameron International Corporation (NYSE: CAM).
BOPs are usually stacked together and most have acoustic actuators – a device that allows underwater crews to activate BOPs in the event of an emergency. Trouble is, the BOP stack on the BP well didn’t have an acoustic actuator. According to The Wall Street Journal, both Brazil and Norway require an actuator on all undersea wellheads.
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