BP CEO says dome will be on seabed Thursday

WASHINGTON (AP) - BP's chief executive says that a containment dome designed to cover the Gulf oil leak will be on the seabed Thursday, and will be hooked up to a drill ship over the weekend.

CEO Tony Hayward told reporters Tuesday that if all goes according to plan, the principal leak could be contained by early next week. But he stressed that this procedure has never been done before at a depth of 5,000 feet, saying "there's no guarantees."

The plan is to cover the leak in the structure known as a cofferdam, and funnel the oil to the surface.

Hayward also said that chemical dispersants being used on the oil have "significantly" reduced the amount of oil coming to the surface.

Copyright 2010 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.