There Have Been Concerns Over Transocean’s Safety Practices

The Wall Street Journal reported that just last year, the board of Transocean Ltd., which owns the sunken Deepwater Horizon rig that exploded in the Gulf of Mexico, didn’t pay executive bonuses due to concerns about the company’s safety practices.  According to the company’s April 1 proxy, the board took this unusual action to “underscore the company’s commitment to safety.”  The board felt that the executives needed an incentive to prevent accidents.

This interesting step taken by the Transocean board came after the deaths of four Transocean workers in 2009.  According to the International Association of Drilling Contractors, that same year, seven workers within the industry died on offshore drilling rigs. 

Transocean’s safety records will most likely come under scrutiny as investigators look into the rig explosion that resulted in 11 deaths and a massive oil spill.

Advice for Transocean Workers
There have been rumors that Transocean has already contacted the victims of the Gulf of Mexico rig explosion, requesting that they sign papers.  These papers, if signed, could potentially impact the victims’ legal rights. Victims should not be pressured to sign any papers at this point or persuaded to give statements. They need to have time to be with their families and grieve the loss of their fellow workers.

If you were hurt on the Deepwater Horizon, you don’t need to be in a rush to sign anything or to even hire a lawyer.  There will be plenty of time for that.  Don’t let anyone put unnecessary pressure on you.

You can order a free copy of my report, Answers to the Most Common Questions About the Transocean Rig Explosion, for additional advice on what you should and shouldn’t do right now.