OIL firms will create an industry body responsible for overseeing safety in a bid to win around its battered public perception.
The industry is now discussing whether the body should be linked to the American Petroleum Institute. That organisation was criticised for by the official enquiry into the Deepwater Horizon disaster.
The US government will maintain an independent supervisory role over the industry.
The plans have been drawn up by a group of executives chaired by a manager from Royal Dutch Shell.