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Transocean celebrates ‘best year in safety’? $RIG

Posted by Dino on April 4, 2011

If this had been released on April 1st I would have thought this was an amazing April Fools joke….

From Politico

Transocean, the company that operated the ill-fated Deepwater Horizon oil rig that killed 11 people when it exploded last April, is so enthralled with its safety record that it’s paying bonuses to its executives.

In a filing with the Securities and Exchange Commission, Transocean acknowledges the loss of life and the Gulf of Mexico oil spill, but otherwise gives itself a pat on the back.

“Notwithstanding the tragic loss of life in the Gulf of Mexico, we achieved an exemplary statistical safety record as measured by our total recordable incident rate (‘TRIR’) and total potential severity rate (‘TPSR’),” Transocean wrote. “As measured by these standards, we recorded the best year in safety performance in our Company’s history, which is a reflection on our commitment to achieving an incident free environment, all the time, everywhere.”

The Wall Street Journal reported the SEC filing on Saturday. The paper noted the rate of incidents per 200,000 hours that employees work, declined 4 percent from 2009, and the potential severity from those incidents fell by nearly 15 percent.

A Transocean spokesman told the paper: “The statements of fact in the proxy speak for themselves, but they do not and can not adequately convey the extent to which everyone at Transocean is keeping the families of the men who lost their lives at Macondo in their thoughts and prayers as we approach the first anniversary of the incident

Read more: http://www.politico.com/news/stories/0411/52463.html#ixzz1IZ4zM7Ec

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