BP's clean up costs double along with oil contained by the RITT

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May 18, 2010

Today, London-based BP detailed the rising costs of the Gulf of Mexico oil spill cleanup, but also noted that more oil is being sucked up by its riser insertion tube tool (RITT) than estimated just 24 hours ago.

The cost of the spill response, containment, relief well drilling, grants to the Gulf states, settlements and federal costs has now totaled $625 million to date. On May 10, estimated costs were set at $350 million.

The figure includes $70 million granted to Florida ($25M), Alabama ($15M), Louisiana ($15M), and Mississippi ($15M) to help mitigate the economic impact of the oil spill.

These grants are in addition to the $25 million grants BP announced May 5 to help each of the four states accelerate the implementation of Area Contingency Plans.

Additionally, the company reported the RITT inserted over the weekend is now estimated to be collecting and carrying about 2,000 barrels a day of oil to the drillship Discoverer Enterprise on the surface 5,000 feet above–twice that of Monday’s estimate.

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