UPDATE: BP Says Cost Of US Spill Response Reaches $2.65B

28th Jun 2010 09:02

(Adds details) LONDON (Dow Jones)--BP PLC (BP.LN) said Monday spending in response to the U.S. Gulf oil spill had reached $2.65 billion, as the cost of the disaster escalates, but added it was on track to completing the relief wells, aimed at containing the leak, by around August. The news of progress pushed shares higher Monday, which opened at 1.5%. The U.K. oil giant said that the cost of containing, cleaning and compensating for the disaster now amounted to $2.65 billion. That puts the average daily increase at $100 million in the past three days from a bill of $2.35 billion Friday. But BP also said the completion of two relief wells aimed at intercepting the flow of oil and gas was still expected around August. It also said a second floating riser system and additional capacity through a new cap on the blowout preventer are expected to begin operations around mid-July. The company said it had recovered or flared 435,600 barrels of oil since the disaster on the Deepwater Horizon rig on Apr. 20. At 0738 GMT, shares were up 0.6%, or 1.9 pence, at 306.5p. -By Benoit Faucon, Dow Jones Newswires; +44-20-7842-9266; [email protected] (END) Dow Jones Newswires June 28, 2010 04:02 ET (08:02 GMT)