Aging Equipment Cause of Oil Accidents

On June 10, 1947, Stanolind Oil & Gas Co. won an auction for the right to drill for oil on a plot seven miles off the Louisiana coast. The company built a spindly steel platform and drilled a well in shallow waters. It struck oil, and in 1950, Stanolind sold its first Louisiana sweet crude for 2.02€ a barrel.
More than 60 years later, the West Cameron 45-A platform is, according to government records, the oldest functioning platform in federal waters in the Gulf of Mexico. One of more than 100 structures built in the 1940s and 1950s still in operation, the platform has survived seven Category 2 hurricanes and a major fire.

read more about the aging rigs at The Wallstreet Journal

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