BP prepares to apply for Gulf of Mexico return

BP has written to the US regulator setting out proposed new deepwater drilling standards based on lessons learned from last year's fatal Deepwater Horizon disaster – as a prelude to re-starting drilling in the region.

BP's chief executive, Bob Dudley, said: "BP's commitment in the wake of the Deepwater Horizon incident is not only to restore the economic and environmental conditions among the affected areas of the Gulf Coast, but also to apply what we have learned to improve the way we operate."

The US Government enforced a complete moratorium on drilling in the Gulf of Mexico in the aftermath of the Deepwater Horizon rig explosion in April 2010, which killed 11 people. But the restrictions have been eased in recent days and BP is expected to make moves to re-start drilling within months.