On Friday, Retired Coast Guard Admiral, Thad W. Allen, stated that the relief well which was placed more than 17,000 feet below the floor of the Gulf of Mexico, has finally reached the Macondo oil well, which is owned by British Petroleum. As a result, the oil well is now secured and, Allen added, with not a shred of doubt, the well is secured and there are no traces of oil discharge.
According to the oil giant BP, the costs of the oil spill in the Gulf of Mexico have risen to 8 billion dollars and it rose more than 2 billion dollars in the last month alone.
The company has also said that it had paid around 399 million dollars as the compensation claims to the people and organizations affected by the huge oil spill.
On Friday, BP PLC divulged a number of lessons that it has learnt while it tried to trouble-shoot the oil spill catastrophe in the U. S. Gulf of Mexico and said that it would let the industry gather knowledge regarding coping up with any disaster of that sort in a better and faster way because of the experience that it has had.